Japan Stocks trade mixed

The Japan share market mixed on Friday, 27 December 2019, as encouraging optimism over U.S.-Chinese trade relations offset by worst than expected Japanese retail sales data for November. Around late afternoon, the 225-issue Nikkei Stock Average edged down 16.9 point, or 0.07%, to 23,907.98, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange added 5.49 points, or 0.32%, at 1,736.69.

Total 27 issues of the 33 industry category of Topix index gained into positive territory, with Marine Transportation, Other Financial Business, Electric Power & Gas, Securities & Commodities Futures, and Banks issues being notable gainers, while Rubber Products, Foods, and Mining issues were notable losers.

Rising optimism around a "Phase 1" trade deal announced earlier this month between the United States and China has helped put investors in a buying mood. On Wednesday, Chinese Foreign Ministry spokesman Geng Shuang said officials from Beijing and Washington were in close communication about detailed arrangements for the deal's signing and other follow-up work. Those comments follow remarks from President Trump, who on Christmas Eve said that the deal is done, it's just being translated right now. Trump also said that he and China's leader, Xi Jinping, would hold a signing ceremony for the partial trade resolution in January. We'll be having a quicker signing because we want to get it done.

ECONOMIC NEWS: Japan Retail Sales Improve MoM In November-- Japan retail sales were up a seasonally adjusted 4.5% on month in November, the Ministry of Economy, Trade and Industry said on Friday, following the 14.2% plunge in October. On a yearly basis, retail sales sank 2.1% following the 7.0% slide in the previous month.

Japan Industrial Production Down 0.9% On Month In November-- Japan industrial production was down a seasonally adjusted 0.9% on month in November, the Ministry of Economy, Trade and Industry said in Friday's preliminary reading, following the 4.5% drop in October. On a yearly basis, industrial production tumbled 8.1% following the 7.7% contraction in the previous month. Upon the release of the data, the METI downgraded its assessment of industrial production, saying that it has weakened.

Japan Unemployment Rate Decelerates To 2.2% In November-- Japan jobless rate came in at a seasonally adjusted 2.2% in November, the Ministry of Internal Affairs and Communications said on Friday, as compared to 2.4% in the previous month. The job-to-applicant ratio was 1.57 - unchanged and as expected. The number of employed persons in November was 67.62 million, an increase of 530,000 from the previous year. The number of unemployed persons in November was 1.51 million, a decrease of 170,000 from the previous year.

CURRENCY NEWS: The Japanese yen, often viewed as a safe-haven currency in times of economic uncertainty, little changed against greenback and other major currencies. The Japanese yen traded at 109.45 after weakening to levels above 109.6 earlier in the week.

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