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Japanese shares rally in final trades for the year

Published 26/12/2019, 03:49
© Reuters.  Japanese shares rally in final trades for the year
JP225
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TOPX
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9984
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6981
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MTHR
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SINGAPORE, Dec 26 (Reuters) - Japanese shares rose on

Thursday, rallying after eight sessions of intra-day weakness in

trades marking the final settlements for 2019 and driven by

expectations of a Sino-U.S. trade deal early in the new year.

The Nikkei index .N225 was up 0.42% at 0147 GMT, to

23,883.43 points, taking its gains for the year so far to

18.83%. The broader Topix index .TOPX was up 0.36%.

The rally was broad-based with investors counting on an end

to the prolonged trade war to prop up a market that has been

disproportionately hurt by flagging global demand, but led by

the industrials and consumer discretionary sectors.

Under Japan's T+2 settlement system, trades done on Thursday

would be settled on Monday, the final trading day for the year.

"There were no major factors behind the rise and it was a

natural rebound after a fall," said Hiroyasu Mori of the

investment strategy department at Okachi Securities.

"Market players appear to be betting shares will rise after

tomorrow, which is effectively the start of new year trade."

Volumes were however lower than usual. The volume of shares

traded on the Tokyo Stock Exchange's main board .TOPX was 0.33

billion, compared to the average of 1.17 billion in the past 30

days.

The stocks that gained the most among the top 30 core Topix

names were Murata Manufacturing Co Ltd 6981.T up 1.57%,

followed by SoftBank Group Corp 9984.T .

There were 188 advancers on the Nikkei index against 32

decliners.

The Mothers Index .MTHR of start-up firm shares was also

up, gaining 0.79%.

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