Japan Stocks end mixed on profit booking

Headline indices of the Japan share market gave up early gains and closed down on Tuesday, 02 April 2019, as investors locked in profits following two days of gains. Market losses were, however, capped after better-than-expected factory activity data in China and the United States eased concerns over a possible global economic slowdown. At closing bell, the 225-issue Nikkei Stock Average declined 3.72 points, or 0.02%, at 21,505.31. The broader Topix index of all First Section issues on the Tokyo Stock Exchange shed 4.12 points, or 0.25%, at 1,611.69.

Total 17 subsectors out of 33 subsectors of the Tokyo Stock Exchange inclined, with shares in Mining, Nonferrous Metals, Machinery, Banks, and Securities & Commodities Futures issues being notable gainers, whereas Real Estate, Land Transportation, Retail Trade, and Electric Power & Gas issues were notable losers.

 

On the economic front, Japan monetary base was up 3.8% on year in March, the Bank of Japan said on Tuesday - coming in at 494.202 trillion yen. That follows the 4.6% gain in February. Banknotes in circulation rose an annual 3.3%, while coins in circulation gathered 1.7 and current account balances advanced 4% including a 3.9% jump in reserve balances. The adjusted monetary base sank 1.0% on year to 503.046 trillion yen - following the 6.5% jump in the previous month.

CURRENCY NEWS: The Japanese yen, widely viewed as a safe-haven currency, depreciated in the lower 111 yen zone against the dollar on Tuesday, principally in line with its levels in New York overnight. The dollar was quoted at 111.45-46 yen compared with 111.32-42 yen in New York and 111.04-05 yen on Monday.

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