Headline indices of the Japan share market closed higher in lacklustre trade Friday, 19 April 2019, as risk appetite buying bolstered on tracking overnight gains from Wall Street on the back of corporate earnings and economic data and yen depreciation against greenback. But the market's upside was limited as refrained from active trading ahead of the weekend and before the start in Japan of the full-fledged earnings season next week and the special 10-day Golden Week holiday beginning 27 April 2019. Total 20 issues out of 33 subsectors of the Tokyo Stock Exchange declined, with shares in Mining, Air Transportation, Land Transportation, Metal Products, and Insurance issues being notable losers, whereas Other Products, Machinery, and Electric Appliances issues were notable gainers. At closing bell, the 225-issue Nikkei Stock Average inclined 110.44 points, or 0.5%, to end at 22,200.56. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 1.96 points, or 0.12%, at 1,616.93. The Tokyo market opened sharply higher in the wake of a sound Wall Street rally Thursday on stronger-than-expected retail sales in the United States in March and brisk earnings reports by U.S. companies. But after the initial buy orders were executed, the market gradually paired gains amid the dearth of powerful buying incentives. But the market's upside was limited as foreign players began taking Easter holidays and domestic investors refrained from active trading ahead of the weekend Shares in the other Asian markets traded mixed Friday, 19 April 2019, with indices of Japan and Korea, and fluctuated in China, with trading volumes lighter than usual. Several Asia Pacific markets, including Australia, Hong Kong, Singapore and Indonesia, were closed due to a public holiday. Wall Street edged higher on Thursday, 18 April 2019, on strong U.S. retail sales data and earnings from industrial companies. The Dow Jones Industrial Average rose 133.37 points, or 0.5%, to 26,582.91, the S&P 500 gained 5.79 points, or 0.2%, to 2,906.24 and the Nasdaq Composite added 1.64 points, or 0.02%, to 7,997.72. Semiconductor-related issues, such as chipmaking gear-maker Tokyo Electron and test device manufacturer Advantest, attracted purchases thanks to overnight rises in their U.S. peers. Nintendo rocketed 14.1% following reports that the Guangdong provincial government in China had approved sales of the Nintendo Switch console and game software. Among other winners were air conditioner-maker Daikin and auto parts supplier Denso. On the other hand, domestic demand-oriented issues, including railway operator JR East and realtor Sumitomo Realty & Development, met with selling. Parcel delivery firm Yamato Holdings dived on selling sparked by its downward revisions to earnings estimates for the year that ended in March. Also sold were Daiwa House and mobile phone carrier KDDI. ECONOMIC NEWS: Japan Overall Inflation Up 0.5% On Year In March -- Japan overall nationwide consumer prices were up 0.5% on year in March, the ministry of Internal Affairs and Communications said on Friday, up from 0.2% in February. Core consumer prices were up 0.8% on year, which would have been unchanged from the previous month. Individually, prices for fuel, furniture, medical care and recreation were up, while communication costs were down. On a seasonally adjusted monthly basis, overall inflation and core CPI both were unchanged. CURRENCY NEWS: The Japanese yen was little moved against the dollar after the country released inflation numbers. The pair is trading at 111.91, which is slightly below this week's high of 112.15. In March, consumer prices rose by 0.5%, which was in line with expectations. It was higher than the 0.2% released last month. On a MoM basis, the headline CPI was unchanged. The national core CPI increased by 0.8%, which was higher than the expected 0.7%. These numbers show that the country is still struggling with a prolonged period of low inflation. This means that the BOJ will likely continue holding rates at the current levels or raise them if the broad economy does well. Powered by Capital Market - Live News |