Japan’s Nikkei ends larger as Quick Retailing positive aspects

Article content material

TOKYO — Japan’s Nikkei index closed barely larger on Monday, led by Uniqlo model proprietor Quick Retailing and heavyweight expertise shares.

The Nikkei share common edged up 0.15% to shut at 27,820.40, whereas the broader Topix was down 0.31% to 1,947.90.

Article content material

“Right now’s market confirmed little path as U.S. jobs knowledge didn’t turn out to be a market-moving catalyst. However traders had a recent view on heavyweight expertise shares, which underpinned the Nikkei,” mentioned Shoichi Arisawa, normal supervisor of the funding analysis division at IwaiCosmo Securities.

Article content material

The S&P 500 and the Nasdaq Composite ended barely decrease, whereas the Dow Jones Industrial Common edged larger on Friday, because the November payrolls report fueled expectations the Federal Reserve would preserve its path of rate of interest hikes to fight inflation.

Quick Retailing jumped 3.11% and gave the largest enhance to the Nikkei after the clothes retailer operator final week mentioned common purchases per buyer rose 6.5% in November.

Robotic maker Fanuc rose 2.73% and was the largest help to the Topix.

Beauty maker Shiseido rose 2.83% as China unwinds COVID-19 restrictions, elevating hopes for extra beauty purchases.

The insurance coverage and banking sectors misplaced 0.9% and 0.68%, respectively, amid declines in U.S. Treasury yields.

Insurer T&D Holdings declined 3.16% and have become the worst performer on the Nikkei, whereas banking group Resona Holdings slipped 2.73%.

Toyota Motor fell 1.01% and was the largest drag on the Topix. Nissan Motor misplaced 2.72% and Mitsubishi Motors fell 2.55%.

The auto sector dropped 1.12%. (Reporting by Junko Fujita; modifying by Uttaresh.V)

Supply hyperlink

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button