Japan's Nikkei share average
edged up on Thursday, but pared earlier gains as investors held
back from taking major positions ahead of the closely watched
Bank of Japan meeting and a slew of domestic corporate results.
By the midday trading break, the benchmark Nikkei
added 10.56 points to 9,571.57 with strategists citing support
at its 75-day moving average around 9,437.
The broader Topix index gained 0.3 percent to
811.94. Morning trade on the main board was thin, with the Topix
trading at 39 percent of its average 90-day full day volume.
"For the market to test higher levels, we need something new
out of the BOJ, a sense that they are really determined this
time to escape deflation and meet the 1 percent inflation target
as soon as possible," said Kenichi Hirano, operating officer at
Mideast firms face $91bn refinancing needs
Middle East investment grade companies are facing refinancing needs of about $91 billion from bank and bond debt due to mature over the next four years, according to a recent report.