Japan’s Nikkei trades muted before Wall Street holiday

May Be Interested In:RCMP identify Saskatchewan First Nation homicide victims


Japan’s Nikkei share average inched down on Wednesday as investors avoided active bets with Wall Street closed for the Christmas holiday.

The Nikkei was down 0.12 per cent at 38,990.56 by the midday break, after rising as much as 0.37 per cent after the open.

“The market struggled to find direction with foreign investors away for the holiday season,” said Fumio Matsumoto, chief strategist at Okasan Securities.

“This time of the year, local individuals were the only ones active in trading but they do not want to place active bets when large stocks do not move actively with the absence of foreign investors.”

Entertainment company Konami fell 1.74 per cent to drag the Nikkei the most. Drugmaker Daiichi Sankyo lost 1.41 per cent and phone company KDDI slipped 0.59 per cent.

  • Also read: Indian stock markets closed today on account of Christmas

The broader Topix fell 0.62 per cent to 2,710.25, dragged lower by Toyota Motor’s 0.88 per cent fall. Mitsubishi UFJ Financial Group lost 0.91 per cent.

Honda Motor slipped 0.77 per cent after surging 12.2 per cent in the previous session following the announcement of a share buyback on Monday.

Local firms’ share buybacks have supported Japanese equities, but the buying is paused at the end of the year, which is also weighing on the Nikkei, said Okasan’s Matsumoto.

Nissan Motor erased early losses to surge 8.6 per cent to become the top percentage gainer on the Nikkei.

Heavy machinery maker Kawasaki Heavy Industries jumped 4.78 per cent

All but two of the 33 industry sub-indexes of the Tokyo Stock Exchange (TSE) fell.

Steelmakers rose 0.36 per cent and energy explorers inched up 0.6 per cent.

Of more than 1,600 stocks trading on the TSE’s prime market, 19 per cent rose and 77 per cent fell, with 3 per cent trading flat.



share Share facebook pinterest whatsapp x print

Similar Content

Ellie Hall
Meet Kat Abu, The TikToker Mocking Fox News “Just For Funsies”
On Change UK’s inadequacies, political agreements and missing Scots
On Change UK’s inadequacies, political agreements and missing Scots
Find Out Why Women Are More Prone To Stress Fractures
Chocolates for your heart | Femina.in
Tall tales, campfire singalongs and Oldham slang: the White Stripes’ 20 best songs – ranked!
Tall tales, campfire singalongs and Oldham slang: the White Stripes’ 20 best songs – ranked!
When next-generation vaccines were developed in record time to help bring Covid under control, mandatory vaccination was introduced for adults in many countries. Image: Martin Bureau / AFP©
Vaccine Misinformation: A Lasting Side Effect From Covid – Forbes India
The downtown Windsor Superior Court of Justice building.
Windsor police arrest two 14-year-olds for armed robbery, kidnapping
From Chaos to Clarity: Breaking Down the News | © 2024 | Daily News