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STOCKS-MARKETS-JAPAN-CLOSE-UPDATE
Japan, China shares climb in thin holiday trade
TOKYO, April 19, 2019 (BSS/AFP) – Tokyo and Shanghai stocks closed higher
Friday but trade lacked direction with several major markets closed for
Easter holidays.
In Japan, the benchmark Nikkei 225 index added 0.50 percent, or 110.44
points, to 22,200.56, while the broader Topix index climbed 0.12 percent, or
1.96 points, to 1,616.93.
The market’s main gainer was Nintendo, which jumped more than 14 percent
on reports its games and popular Switch console will soon be available in
China.
Meanwhile, Chinese stocks managed to claw higher despite some early
wobbles over concerns that China’s slowing economy could hit soon-to-be-
released corporate earnings.
The benchmark Shanghai Composite Index gained 0.63 percent, or 20.62
points, to close at 3,270.80.
The Shenzhen Composite Index, which tracks stocks on China’s second
exchange, added 0.94 percent, or 16.51 points, to end the day at 1,778.81.
The Japanese market stayed comfortably in positive territory throughout
the day, initially lifted by strong gains in overseas markets.
But a lack of fresh clues and the closure of several major international
markets for Easter prompted position adjustment and profit-taking in the
afternoon session, said Okasan Online Securities in a commentary.
“After an initial round of buying subsided, (the Nikkei index) became
trapped inside a narrow range around 21,200,” Okasan said.
“Only few investors were chasing the higher end of the market since major
foreign markets are entering a break through Monday,” it said.
Wall Street shares finished modestly higher Thursday following a batch of
mostly solid corporate earnings and a successful market debut of technology
company Pinterest.
MORE/HR/1452
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STOCKS-MARKETS-JAPAN-CLOSE-UPDATE 2 LAST TOKYO
The dollar stood at 111.91 yen in Asian trade, slightly slipping from
112.00 yen in New York overnight.
Tokyo investors are gradually preparing themselves for a special 10-day
holiday from the end of the month for an upcoming imperial succession.
The Tokyo Stock Exchange will be closed from Saturday April 27 through
Monday, May 6. Trading will resume from Tuesday, May 7.
Among major gainers on Friday, Nintendo jumped 14.12 percent to 39,200 yen
following media reports that its popular Switch game console and game titles
will become available in China via tech giant Tencent.
Sony rose 0.60 percent to 5,331 yen while Uniqlo operator Fast Retailing
added 2.09 percent to 64,590.
Among individual shares in China, China Life Insurance climbed 4.29
percent to 31.38 yuan and Ping An Insurance rose 3.20 percent to 87.00 yuan.
China Merchants Securities closed 3.12 percent higher at 18.52 yuan and
First Capital Securities gained 1.45 percent to 7.72 yuan.
Telecommunications operator China Unicom put on 4.08 percent to close at
7.15 yuan and ZTE jumped 7.04 percent to 36.49 yuan.
BSS/AFP/HR/1455