Stronger-than-expected US jobs figures prompted traders to increase their wagers on where rates will top out in the current tightening cycle, rather than changing their bets for the size of the increase at the Federal Reserve's December meeting.
At closing bell, the 225-issue Nikkei Stock Average index added 42.50 points, or 0.15%, to 27,820.40. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 6.08 points, or 0.31%, to 1,947.90.
Total 24 of 33 TSE sectors declined, with Marine Transportation, Electric Power & Gas, Fishery, Agriculture & Forestry, Transportation Equipment, and Real Estate issues being notable losers. On the other side, Iron & Steel, Mining, and Air Transportation issues were notable gainers.
Shares of technology companies were higher. Fast Retailing jumped 3.1% after the clothing store operator last week said average purchases per customer rose 6.5% in November. Robot maker Fanuc rose 2.7%.
Shares of insurance and banking sectors fell, amid declines in U.S. Treasury yields. T&D Holdings declined 3.2% while Resona Holdings slipped 2.7%
Automakers were lower. Toyota Motor fell 1%, Nissan Motor lost 2.7%, and Mitsubishi Motors fell 2.55%.
ECONOMIC NEWS: The latest survey from Jibun Bank revealed that services sector continued to expand in November with a PMI score of 50.3, down from 53.2 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that the composite PMI fell into contraction at 48.9, down from 51.8 a month earlier.
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CURRENCY/ COMMODITY NEWS: The Japanese yen fell 0.1% to 134.50 per dollar. Crude Oil advanced after OPEC+ left oil production steady, sanctions on Russian crude took effect and China's loosening of Covid restrictions improved the outlook for demand.
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