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Nikkei inches up to 10 1/2-month with eye on Brexit tussle

Published 10/21/2019, 02:55 PM
Updated 10/21/2019, 02:56 PM
Nikkei inches up to 10 1/2-month with eye on Brexit tussle
JP225
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TOPX
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4063
-
1925
-
1928
-
7735
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6976
-
8601
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ISECU.T
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* Nikkei ends at highest level since early Dec
* Turnover extremely thin at about 2/3 of average
* Brokerages, house builders among best gainers

By Hideyuki Sano
TOKYO, Oct 21 (Reuters) - Japan's Nikkei share average edged
up and closed at a 10 1/2-month high on Monday on Monday though
uncertainty about Britain's exit from the European Union kept
many investors on the sidelines.
The Nikkei share average .N225 rose 0.25% to 22,548.90,
its highest finish since Dec. 3.
The broader Topix .TOPX gained 0.41% to 1,628.60, and a
broad range of shares rose with advancers outnumbering decliners
by a ratio of roughly 7 to 3.
But turnover was among the lowest numbers this year at 1.53
trillion yen, about two-thirds of the average over the past
year.
Trade was slow, with investors looking to the UK, where
Parliament forced Prime Minister Boris Johnson to seek a delay
to an Oct. 31 deadline for Britain's departure from the bloc.
Many investors were away ahead of a Japanese public holiday
on Tuesday for the enthronement of Emperor Naruhito, who
ascended to the throne in May.
But 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.
Data earlier in the day showing shipments contracting for
the 10th straight month in September did little to dent the
mood. Cyclical shares did well, with securities brokers subindex
.ISECU.T rising 1.9% to be the best performer among the Tokyo
Stock Exchange's industry subindexes .TSEK .
Daiwa Securities 8601.T rose 2.5%, while Matsui Securities
gained 2.1% Home builders were also among leading gainers, with
Daiwa House Industry 1925.T up 2.5% and Sekisui House 1928.T
up 1.9% at fresh three-decade highs.
Some chip-related shares slipped on profit-taking after
their recent gains.
Screen Holdings 7735.T dropped 0.3% after hitting a fresh
one-year high.
Taiyo Yuden 6976.T fell 2.7% while Shin-etsu Chemical
4063.T dropped 1.3%.

(Editing by Shri Navaratnam and Gerry Doyle)

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