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Tokyo Stocks End Flat Amid Lack of Trading Cues, Yen's Rise-Aug 28
 

Tokyo stocks ended predominantly flat Monday as a positive market mood early on set by Wall Street's solid tone late last week wore off in later trade as the yen gained against the U.S. dollar amid a lack of fresh trading cues.

The 225-issue Nikkei Stock Average edged down down 2.71 points, or 0.01 percent, from Friday to close the day at 19,449.90.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 3.13 points, or 0.20 percent, to finish at 1,600.12.

Pharmaceutical and services issues comprised the day's notable gainers, while insurance and bank-related stocks led those that declined the most by the end of play.

Rising stocks outpaced falling ones by 1,184 to 713 on the First Section.

Local brokers said that coupled with the yen's rise, trading was somewhat directionless owing to a dearth of fresh trading cues.

Following a meeting of central bankers in the U.S. last Friday at which speeches by U.S. Federal Reserve chief Janet Yellen and European Central Bank President Mario Draghi offered no fresh policy cues, shares struggled to for direction, they said.

Traders here added that the yen's strength coupled with ongoing geopolitical concerns prevented investors from making bold moves.

On the main section on Monday, 1,344.92 million shares changed hands, rising marginally from Friday's volume of 1,343.61 million shares.

The turnover on the first trading day of the week totaled 1,744.7 billion yen (15.99 billion U.S. dollars).


(www.chinaview.cn 2017-08-29)
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