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Nikkei and Yen Ease in Quiet Trading
Japanese data released earlier on Monday was yen-bearish, although the market’s reaction was muted.
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Asian stock markets are exhibiting a mixed trend on Monday in the absence of fresh cues as USA and European markets were closed on Friday for the Christmas Day holiday.
However, Chinese shares rose on stimulus expectations, though gains were limited by the lack of trading enthusiasm as the year end approached, dealers said. The Shanghai Composite Index added 0.43 per cent to 3,627.91. Tokyo gained 0.21 percent by the break as a weaker yen lifted exporters, while Singapore rose 0.2 percent and Taiwan edged up 0.04 percent in morning trade.
The currency climbed 0.39 percent to $1.166, the strongest since early December.
Investors across asset markets were without some of the usual leads as markets in Europe and North America and many in Asia were closed on Friday for Christmas.
The dollar also touched an 8 week low against then Yen, finishing at 120.11 yen.
The Nikkei fell 0.1 per cent to 18,769.06 after moving in and out of the black.
The Topix index of all first-section shares ended up 0.86 percent, or 13.03 points, at 1,529.22.
The US unit recovered to 120.35 yen in Tokyo on Monday morning from a two-month low of 120.19 yen on Friday in Tokyo.
Energy explorer Inpex fell 1.61 percent to 1,161 yen, while JX Holdings was down 0.45 percent to 504.4 yen.
For the week, CSI300 advanced 1.9 percent while SSEC was up 1.4 percent.
J. Front Retailing Co Ltd increased 2% to 1,847 yen after the apparel retailer reported net sales in the nine-month ending in November jumped 2.5% from a year ago to 849.33 billion yen.
Business confidence among China’s entrepreneurs and bankers dipped in the fourth quarter of 2015 from the third, according to surveys by the People’s Bank of China published on Thursday.
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The Japanese stock market is up with modest gains as Investors went bargain hunting following the benchmark Nikkei index’s five straight days of losses through Friday.