Tokyo stocks edged higher Wednesday morning as investors bought select technology issues and blue chips following two days of declines, shrugging off government data showing Japan's economy grew less than initially thought in the July-September quarter. The U.S. dollar was up against the Japanese yen.
The Nikkei Stock Average of 225 issues rose 11.25 points, or 0.10 percent, to 10,884.88 points at the end of morning trading. On Tuesday, the index shed 108.33 points, or 0.99 percent.
The dollar was trading at 103.12 yen at 11 a.m. in Tokyo, up 0.36 yen from late Tuesday and also above the 102.84 yen it bought in New York later that day.
On the stock market, the Nikkei index bounced back slightly from a two-day decline totaling some 200 points as investors bought high technology issues Canon Inc., Kyocera Corp. and Sony Corp. Automakers Honda Motor Co. and Toyota Motor Corp. also advanced.
The government said Japan's economy grew 0.2 percent on an annual basis in the July-September period from the previous quarter, down from the preliminary figure of 0.3 percent.
The downward revision underscored concerns reinforced by recent weak data that Japan's economic recovery is less robust than the government has said. Share prices in Tokyo were initially lower before moving into positive territory by midmorning.
In Tokyo Wednesday morning, the index of all issues on the Tokyo Stock Exchange's first section gained 1.01 points, or 0.09 percent, to 1,094.69 points. The TOPIX lost 10.02 points, or 0.91 percent, the day before.
In currency trading, the euro was down at $1.3400 late Wednesday morning in Tokyo from $1.3443 late Tuesday and also below the $1.3432 in New York later that day. Against the yen, the euro rose to 138.14 yen from 137.94 yen.
The euro hit a new record high of $1.3470 in European trading overnight amid concerns over the U.S. trade and budget deficits and worse-than-expected U.S. employment data.
In bond trading, the yield on Japan's benchmark 10-year government bond fell to 1.4250 percent, from Tuesday's finish of 1.4300 percent. Its price rose 0.04 to 100.65 points.