TOKYO: Japanese stocks swung between gains and losses. Paper and drug manufacturers led declines, while energy explorers jumped as crude oil rose for a fifth day.
Nippon Paper Industries Co. fell 1.6 percent. Drug maker Shionogi & Co. retreated 2.5 percent. JGC Corp., which designs and maintains factories, lost 5.6 percent after cutting its dividend and reporting profit that missed forecasts. Inpex Corp., Japan’s biggest energy explorer, climbed 1.5 percent.
The Topix index was little changed at 1,590.70 as of 12:48 p.m. in Tokyo, swinging between a loss of 0.4 percent and a gain of 0.2 percent. About three stocks fell for every two that rose. The Nikkei 225 Stock Average was little changed at 19,904.95. The measure briefly climbed above 20,000 last week for the first time in 15 years. The yen weakened 0.3 percent to 119.70 after strengthening 0.6 percent against the dollar on Tuesday.
