Japan Stocks trade mixed

Headline indices of the Japan share market were little lower after swerving in and out of the boundary line on Thursday, 22 November 2018, as investors took heart from a slightly cheaper yen and a rebound in US shares overnight. Nearly two third TSE33 issues declined, with Mining, Banks, Metal Products, Iron & Steel, and Pulp & Paper issues being notable losers, while Fishery, Agriculture & Forestry, Real Estate, and Land Transportation issues were notable gainers. In late afternoon trades, the 225-issue Nikkei index edged down 3.54 points, or 0.02%, at 21,504. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 1.02 points, or 0.06%, to 1,614.87. Japanese financial markets will be closed on Friday due to a national holiday.

U.S stocks finished higher on Wednesday. On Wall Street, the Dow Jones Industrial Average closed largely flat at 21,464.69 while the S&P 500 rose 0.3% to 2,649.93. The Nasdaq Composite also advanced 0.9% to close at 6,972.25. In economic news, jobless claims rose to 224,000 and durable goods orders fell 4.4%. U.S. financial markets are closed for Thanksgiving on Thursday.

Shares of companies such as cosmetics makers advanced after the Japan National Tourism Organization reported that October numbers rose 1.8% on-year to 2.646 million after dropping in the previous two months. Shiseido Co gained 3.6%, Kose Corp added 3%. Drugstore Matsumotokiyoshi advanced 1.9%.

Defensive stocks such as railway stocks, real estate firms and food processors were also higher. Central Japan Railway added 1.2%, Mitsubishi Estate Co gained 1.5% and Ajinomoto Co rose 1%.

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