Japan Nikkei hugs gain line in cautious trade

Headline indices of the Japan share market closed marginal higher after recouping intraday losses on Monday, 22 April 2019, amid a lack of fresh market-moving events as a majority of foreign markets were closed and with 10 days of holiday looming in Japan. The US, European and a majority of Asian markets were closed on Friday and the Japanese markets will be closed from 29 April 2019 to 6 May 2019 to celebrate the enthronement of a new emperor on 1 May 2019. At closing bell, the 225-issue Nikkei Stock Average inclined 17.34 points, or 0.08%, to end at 22,217.34. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 1.69 points, or 0.1%, at 1,618.62.

Total 17 issues out of 33 subsectors of the Tokyo Stock Exchange inclined, with shares in Mining, Marine Transportation, Construction, Retail Trade, and Real Estate issues being notable gainers, whereas Other Financial Business, Air Transportation, Securities & Commodities Futures, and Insurance issues were notable losers.

Asian stock markets were mostly lower in Monday afternoon trade in the absence of fresh cues from Wall Street and European markets, which were closed for the Good Friday holiday. The markets in Australia, New Zealand and Hong Kong remained closed for the Easter Monday holiday. The broad MSCI Asia ex-Japan index declined 0.31% to 542.00.

CURRENCY NEWS: The Japanese yen was little changed against the dollar. The dollar was fetching 111.94 yen in Asian trade, against 111.91 yen on Friday in Asia.

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