Tokyo stocks were mixed in relatively quiet trading Monday amid a dearth of fresh market-moving factors.
The 225-issue Nikkei average barely extended its winning streak to a third straight market day by closing at 29,685.37, up 2.00 points, or 0.01%, from Friday, when the benchmark index gained 40.68 points.
On the other hand, the Topix index of all first section issues lost 4.31 points, or 0.22%, to end at 1,956.56, after rising 1.74 points the previous day in its two-session advance.
The Tokyo market met with selling soon after opening nearly unchanged, weighed down by the resurgence of the novel coronavirus in Japan.
But its downside was limited thanks to buying stemming from rises in all three major U.S. price indicators Friday, of which the Dow Jones Industrial Average and the S&P 500 index rewrote their record highs, brokers said.
Tokyo stocks managed to rebound in lackluster trading Thursday amid the absence of market-moving events.
The 225-issue Nikkei average rose 21.70 points, or 0.07%, to close at 29,642.69, after losing 130.62 points Wednesday.
The Topix index of all first section issues finished 6.95 points, or 0.36%, higher at 1,959.13, in a turnaround from a 6.37-point drop the previous day.
Stocks got off to a mixed start after Wall Street failed to set a direction Wednesday.
Although the popularity of financials and some economically sensitive cyclicals pushed up the market in the morning, its upside was limited due to a lack of news to stimulate investor appetite.
Both the Nikkei and Topix indexes moved around the previous day’s closing levels in the afternoon, as participants retreated to the sidelines ahead of the release of U.S. retail sales data for March later on Thursday, brokers said.
Tokyo stocks turn slightly higher in lackluster trading japantimes.co.jp - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantimes.co.jp Daily Mail and Mail on Sunday newspapers.
Apr 14, 2021
As Japan’s life insurers lay out their annual strategies this month, traders will be looking for the answer to one question what do some of the world’s biggest investors plan to do about Treasuries?
With the path of Treasury yields set to determine investments across the financial world, the intentions of a large cohort of the biggest foreign holders of U.S. government debt will be a crucial input. Japanese investors were on track to be net sellers of Treasuries for the sixth year in seven in their fiscal year to March, according to U.S. Treasury data through January. Some predict a return to purchases in 2021.
Treasury traders seek moment of truth from Japan s life insurers japantimes.co.jp - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from japantimes.co.jp Daily Mail and Mail on Sunday newspapers.