Stocks end mixed, weighed down by strong yen

Monday 06th December, 03:15 PM JST

TOKYO —

Stocks ended mixed Monday, weighed down by a stronger yen against the dollar after disappointing U.S. jobs data, but expectations of global economic recovery continued to support the market. The 225-issue Nikkei Stock Average edged down 11.09 points from Friday to 10,167.23. The broader Topix index of all First Section issues on the Tokyo Stock Exchange gained 2.19 points to 881.41.

The market saw export-linked shares trading lower as the dollar fell against the yen after Friday’s U.S. jobs report showed employers added a smaller-than-expected 39,000 jobs and that the unemployment rate rose to 9.8% in November, brokers said. But a lack of fresh trading cues kept both the Nikkei and Topix within a narrow range throughout the day.

‘‘The market was supported despite the yen’s rise. The jobs report came out worse than expected, but at the same time (Fed Chairman Ben) Bernanke is extending a safety net,’’ said Fumiyuki Nakanishi, general manager at SMBC Friend Securities Co.

‘‘We’ll need to see how U.S. stocks will perform, after ending Friday with modest gains, and whether the market will conclude that the November report was just irregular, or think it (the job situation) will get worse in December,’’ Nakanishi added.

With unemployment high, Bernanke did not rule out the possibility of expanding its bond-buying program, depending on U.S. economic conditions, during a CBS program on Sunday. The dollar was trading in the upper 82 yen range, down from the upper 83 yen zone late Friday in Tokyo.