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Japan Steelmakers Rise, Led by JFE; Real-Estate Brokers Decline

Masaki Kondo and Patrick Rial Bloomberg News
Japan Steelmakers Rise, Led by JFE; Real-Estate Brokers Decline - Japan - Real Estate Broker - Real Estate Market

July 29 (Bloomberg) -- Japanese steelmaker stocks rose after Merrill Lynch & Co. raised its price target on JFE Holdings Inc. Real-estate brokers declined on concern a change in commission policies will damage earnings.

JFE, the country’s second-biggest steelmaker, jumped 3.9 percent. Yahoo Japan Corp. gained 3.9 percent after forecasting an increase in profit. Sumitomo Real Estate Sales Co. and Tokyu Livable Inc. extended declines for a second day. Toilet maker Toto Ltd. dived 4.4 percent after a brokerage downgrade.

The Nikkei 225 Stock Average rose 17.65, or 0.2 percent, to 10,104.91 as of the 11 a.m. break in Tokyo. The broader Topix index was little changed at to 930.17, with about as many shares rising as retreating.


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