Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Japanese shares steady amid trade optimism

Published 27/12/2019, 03:42
Updated 27/12/2019, 03:45
© Reuters.  Japanese shares steady amid trade optimism

© Reuters. Japanese shares steady amid trade optimism

TOKYO, Dec 27 (Reuters) - Japanese shares were largely

unchanged on Friday, though optimism on U.S.-China rapprochement

on a trade deal underpinned the market, especially cyclical

value shares.

As of 0214 GMT, the Nikkei share average .N225 was down

0.03% at 23,918.90, still not far from 14-month top of 24,901

touched early December while the broader Topix .TOPX gained

0.22% to 1,734.98.

The market has been supported by hopes that the United

States and China will sign off on a tentative trade deal early

next year.

But as many foreign investors remained absent due to

year-end holidays, retail Japanese traders were considered to be

the main players.

Shippers .ISHIP.T were the best performing sector among

the Tokyo Stock Exchange's 33 industry subindexes with gain of

1.2%. Kawasaki Kisen 9107.T rose 1.9% while Mitsui OSK Lines

9104.T gained 1.4%.

Household names did well with Softbank Group 9984.T rising

1.5% and Nintendo 7974.T 0.7%.

The index of Mothers start-up market .MTHR rose 0.5% while

the Jasdaq market .NOTC , another bourse for start-up firms,

also ticked up 0.5%.

Banks .IBNKS.T gained 0.6%, with both MUFG 8306.T and

Mizuho Financial 8411.T up 0.6%.

J. Front Retailing 3086.T jumped 4.4% to a one-year high

as investors welcomed the announcement from the department store

operator that it will seek to wholly own Parco 8251.T , an

operator of commercial complex in which it already has a

dominant stake. J.Front said it was offering 1,850 yen per share, a 35.6%

premium to Parco's 1,364 yen closing price on Wednesday. Parco

shares are untraded with a glut of buy orders.

Many of the top decliners were those that went ex dividend

on Friday.

Japan Tobacco 2914.T , which boasts the highest dividend

yield among the Topix Core 30 of top firms, lost 3.2% while

Canon 7751.T shed 2.2%.

Skylark Holdings 3197.T dropped 3.4% while Pola Orbis

Holdings 4927.T shed 3.1%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.