At closing bell, the 225-issue Nikkei Stock Average declined 102.69 points, or 0.38%, to 27,055.94. The broader Topix index of all First Section issues on the Tokyo Stock Exchange rose 4.96 points, or 0.28%, to 1,796.18.
ECONOMIC NEWS: Japan Services PMI Stays In Contraction In December- Japan services sector continued to contract in December, with a services PMI score of 47.7, the latest survey from Jibun Bank revealed on Wednesday. That's down slightly from 47.8 in November and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction. Individually, there were sustained reductions in output and new business, although employment levels broadly stabilized and sentiment remained positive. Average cost burdens faced by Japanese service providers ended a four-month sequence of falls with a marginal increase in input prices in the latest survey period. The survey also showed that its composite index improved to 48.5 in December from 48.1 in November.
Japan Consumer Confidence Dips To Lowest In 4 Months In December- Japan's consumer confidence decreased to the lowest level in four months in December, data from the Cabinet Office showed on Wednesday. On a seasonally adjusted basis, the consumer confidence index decreased to 31.8 in December from 33.7 in November. The latest index was the lowest since August, when it was 29.3. Among the four sub-indexes of the consumer confidence index, the index for overall livelihood decreased to 34.9 in December, and the index reflecting households' willingness to buy durable consumer goods fell to 33.8. The indicators measuring the income growth decreased to 35.0 and employment decline to 23.6.
CURRENCY NEWS: The yen strengthened against greenback amid reports the government will declare a state of emergency that would take effect by Friday and last about a month. The Japanese yen traded at 102.76 per dollar after strengthening yesterday from levels above 102.9 against the greenback.
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