By Kana Nishizawa
Nov. 4 (Bloomberg) -- Japan’s benchmark stock indexes rose, led by commodity companies after oil and gold prices climbed. Banks fell after UBS AG reported a wider-than-estimated loss.
Sumitomo Metal Mining Co., Japan’s second-largest copper smelter and its top producer of nickel, gained 2.6 percent. Nissan Motor Co., Japan’s third-largest carmaker, added 1.7 percent after U.S. sales increased in October. Japan Steel Works Ltd. jumped 10 percent after the maker of forged-steel products lifted its profit forecast. Sumitomo Trust & Banking Co., Japan’s fifth-largest bank, lost 2.9 percent.
The Nikkei 225 Stock Average gained 0.4 percent to 9,844.31 at the close in Tokyo. The broader Topix index added 0.1 percent to 881.27, reversing a drop in the last two minutes of trading. About eight stocks declined for seven that advanced. Shares in the Topix are valued at 37 times estimated earnings, compared with 20.1 at the start of 2009.
To contact the reporter for this story: Kana Nishizawa in Tokyo at knishizawa5@bloomberg.net.
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