Japanese shares close little changed, trading firms extend gains

TOKYO, Sept 1 (Reuters) - Japanese stocks closed almost
unchanged on Tuesday, as an extended rally in trading companies
was offset by investors booking profits after a sharp rise in
the last session.
The benchmark Nikkei share average .N225 was down 0.01% to
23,138.07, after flitting between positive and negative
territories. There were 72 advancers against 146 decliners.
The broader Topix .TOPX fell 0.15% to 1,615.81, with all
but eight of 33 sectoral sub-indexes on the Tokyo exchange
trading lower.
Shares of trading firms extended a rally driven by the
acquisition of a 5% stake by Warren Buffett's Berkshire Hathaway
BRKa.N in each of Japan's five biggest trading houses.
Mitsubishi Corp 8058.T gained 3.12%, Mitsui & Co 8031.T
rose 1.99%, and Sumitomo Corp 8053.T added 1.86%. Marubeni
8002.T and Itochu Corp 8001.T rose 1.22% and 1.41%,
respectively. Broader investor sentiment received some boost from data
showing factory activity in China expanded at the fastest clip
in nearly a decade in August, bolstered by the first increase in
new export orders this year. Back home, data showed Japan's jobless rate increased, the
availability of jobs in July declined, and the country's factory
activity contracted at the slowest pace in six months in August.
But trading volume was slightly thin as some investors kept
to the sidelines while waiting for new developments in the race
to replace Prime Minister Shinzo Abe.
The volume of shares traded on the Tokyo Stock Exchange's
main board .TOPX was 1.03 billion, compared to the 30-day
average daily volume of 1.17 billion.
Life insurers, which rely on foreign bonds for income,
dipped, taking overnight cues from long-term U.S. Treasury
yields.
Tokio Marine Holdings 8766.T fell 1.39%, T&D Holdings
8795.T edged down 0.81%, and Dai-ichi Life Holdings 8750.T
lost 0.72%.
Elsewhere in the market, the Mothers Index .MTHR of
start-up firm shares jumped 2.93% to 1,154.51.