Tokyo outline
Tokyo stocks climb during the slow Christmas trading period. Tokyo stocks rose in light Christmas trade on Monday, after gains in US technology companies last week.
The Nikkei 225 index increased 0.26 percent, or 84.98 points, to 33,254.03, while the Topix index increased 0.04 percent, or 0.97 points, to 2,337.40.
While trading slowed as the holiday season approached, worldwide investors continued to buy stocks, believing that the US economy would experience a “soft landing” and that the Federal Reserve would consider rate reduction in the new year, according to Nomura Securities.
Many markets were expected to be quiet throughout the Christmas holiday season, with most Asian stock exchanges closed on Monday.
According to Nomura, some players may be seeking for a good moment to sell assets because US markets have been gradually rising in recent weeks.
According to IwaiCosmo Securities, high-tech stocks drew buyers as the Nasdaq rose last week, while the FX market regained its calm.
“The market opened higher in the morning, but it gradually came to face selling pressure as investors sold their shares to adjust positions with only a limited number of participants,” the brokerage said in a statement.
The relative strength of Shanghai shares provided support for Tokyo shares, it added.
The Shanghai Composite Index recovered earlier losses to finish 0.14 percent, or 4.04 points, higher at 2,918.81.
The Taiwan Weighted Index rose 0.5%, or 8.21 points, to 17,604.84.
Toyota gained 0.83 percent to 2,537 yen among major Tokyo stocks. SoftBank Group’s stock increased 1.25 percent to 6,099 yen.
Sony Group increased its share price by 1.04 percent to 13,120 yen.
Nintendo surrendered early gains, falling 0.17 percent to 6,934 yen. Mitsubishi UFJ Financial Group fell 0.74 percent to 1,207 yen as well.
Inpex, an energy developer, increased 0.29 percent to 1,934 yen.
Uniqlo operator Fast Retailing firmed 0.62 per cent to 35,830 yen.