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Japanese shares tick up, but Brexit concerns cap

Published 10/21/2019, 10:47 AM
Updated 10/21/2019, 10:48 AM
Japanese shares tick up, but Brexit concerns cap
JP225
-
TOPX
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7735
-
6506
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3436
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6976
-

TOKYO, Oct 21 (Reuters) - Japanese stocks held firm on
Monday though uncertainty about Britain's exit from the
European Union kept many investors on the sidelines.
Trade was slow ahead of a Japanese public holiday on Tuesday
for the enthronement of Emperor Naruhito, who acceded to the
throne in May.
The Nikkei share average .N225 rose 0.25% to 22,549.07,
staying near 10-month highs of 22,649.85 hit on Friday. The
broader Topix .TOPX gained 0.44% to 1,629.11.
Japanese shares have maintained their firm tone overall, on
budding hopes that the worst may be over for technology sectors
as Washington and Beijing agreed to an tentative truce on their
trade war earlier this month.
Still, data earlier in the day underlined the strains on the
nation's exporters, with shipments contracting for the 10th
straight month in September. Some chip-related shares remained in demand, though others
slipped on profit-taking after their recent gains.
Sumco 3436.T rose 0.5% to one-year high while Screen
Holdings 7735.T dropped 0.4% after hitting fresh one-year
high.
But Taiyo Yuden 6976.T fell 2.4% while Yaskawa Electric
6506.T dropped 1.1%.
Apart from semi-conductor shares, trade was generally slow
with many investors looking to the UK, where the parliament
forced Prime Minister Boris Johnson to seek a delay to an Oct.
31 deadline for Britain's departure from the bloc.

(Editing by Shri Navaratnam)

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