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Japan's Nikkei little changed ahead of Jackson Hole; Shiseido advances

Published 08/22/2019, 10:34 AM
Updated 08/22/2019, 10:40 AM
Japan's Nikkei little changed ahead of Jackson Hole; Shiseido advances
TOPX
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7735
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4911
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8035
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6857
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7532
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3088
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4751
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4921
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4922
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By Shinichi Saoshiro
TOKYO, Aug 22 (Reuters) - Japan's Nikkei was little changed
on Wednesday, as investors held positions ahead of a key central
bankers' gathering in the United States, which could provide
markets with some near-term cues.
The Nikkei share average was up 0.02% at 20,622.01 as of
0215 GMT.
Markets are in a holding patter ahead of Federal Reserve
Chair Jerome Powell's speech on Friday at the Jackson Hole,
Wyoming, conference of central bank officials. Investor focus
will be on Powell's comments on monetary policy and any hints he
provides ahead of September's rates meeting, at which the Fed is
widely expected to ease policy.
Cosmetics makers and retail store operators popular with
tourists rose after government data showed the number of foreign
visitors to Japan in July increased 5.6% from the previous year.
Shiseido 4911.T was up 4.9%, leading the index on
percentage gains. Fellow cosmetics companies Fancl Corp 4921.T
climbed 2.9% and Kose Corp 4922.T added 3.1%.
Matsumotokiyoshi Holdings Co 3088.T , which operates a
chain of drugstores, rose 1.8% and Pan Pacific International
Holdings Corp 7532.T , the operator of Don Quijote discount
stores, added 1%.
Technology shares advanced on the back of continuing
strength in their U.S. counterparts, which have helped Wall
Street's strong over the past week.
Tokyo Electron 8035.T gained 1.1%, Advantest 6857.T
advanced 1.6% and SCREEN Holdings 7735.T rose 3.4%.
There were 106 advancers on the Nikkei index against 111
decliners.
The largest percentage losses in the index was CyberAgent
Inc 4751.T , which fell 3.1%.
The broader Topix .TOPX dipped 0.08% to 1,496.26.

(Editing by Sam Holmes)

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