Tokyo shares end higher on optimism for New Year
Tokyo, (MILLAT ONLINE):Tokyo stocks ended marginally higher Wednesday as general optimism about 2018 encouraged some buying while major investors kept to the sidelines.
The benchmark Nikkei 225 index edged up 0.08 percent, or 18.52 points, to 22,911.21 while the broader Topix index added 0.15 percent, or 2.78 points, to 1,829.79.
The Tokyo bourse opened on a weak tone after US markets dipped overnight, but bargain-hunting quickly brought the headline index above water in early trade.
The index remained within a tight range, with many players away for holidays.
“Dip buying hit the market when shares softened, but any gains were capped” with many international markets staying closed for holidays, Okasan Online Securities said in a commentary.
The Japanese market will remain open until Friday and resume trading on January 4 after observing traditional New Year holidays.
Those who were left trading were generally bullish. About 70 percent of all shares listed on the first section of the Tokyo bourse made gains on Wednesday.
But the market struggled to find a clear direction due to thin trade, Okasan added.
The dollar also hovered in a narrow range, standing at 113.19 yen, little changed from 113.29 yen in Tokyo Tuesday.
Among major shares, game giant Nintendo added 0.70 percent to 41,970 yen, while Sony dropped 0.51 percent to 5,120.
Toyota added 0.29 percent to 7,274 yen, Nissan slipped 0.04 percent to 1,127 and Honda fell 0.38 percent to 3,895 yen.
Uniqlo clothing chain operator Fast Retailing rose 1.73 percent to 45,370 after a news report said it would build a production base in Ethiopia.
Mitsubishi UFJ Financial gave up earlier gains and ended down 0.06 percent at 835.5 yen after it announced plans to buy 73.8 percent of shares in Indonesia’s Bank Danamon.