Headline indices of the Japan share market closed mixed after reversing earlier gains on Thursday, 17 January 2019, as investors' continued withdrawing profit off the table after yen firmness against greenback amid lingering worries about the global economy and trade war tensions. Topix managed to hold gains amid speculation that at next week's policy meeting the Bank of Japan could consider changing the composition of its exchange-traded fund (ETF) purchases with heavier emphasis on Topix relative to the Nikkei. Total 25 out of 33 subindexes of the Tokyo Stock Exchange's were in positive territory, with shares in Pulp & Paper, Securities & Commodities Futures, Other Financial Business, Insurance, and Electric Power & Gas issues being notable gainers, while Rubber Products, Fishery, Agriculture & Forestry, and Marine Transportation issues were notable losers. At closing bell, the 225-issue Nikkei index declined 40.48 points, or 0.2%, at 20,402.27. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 5.43 points, or 0.35%, to 1,543.20.
Shares in banks and other financial firms climbed on tracking gains in their US counterparts. Sumitomo Mitsui Financial Group rose 0.9%, Mitsubishi UJF Financial Group gained 0.8% and Shinsei Bank added 1%. Nomura Holdings rose 4% and Daiwa Securities Group climbed 1.2%.
Shares in iron and steel issue advanced, supported by recent gains in iron ore prices. Kobe Steel advanced 2% and Nippon Steel and Sumitomo Mining added 1.2%.
Automakers sagged after a Republican senator told reporters that US President Donald Trump is "inclined" to move ahead with tariffs on imported vehicles. Toyota Motor Corp declined 0.8% and Honda Motor Co dipped 0.1%, while Nissan Motor Co ended with a modest gain of 0.1%.
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