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Japan Stocks mixed on weaker yen, profit-taking

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Headline indices of the share market closed mixed on Friday, 12 April 2019, as upbeat mood on yen depreciation against the U. S. dollar and as latest data showed the U. S. remains on solid footing was offset by profit taking lingering uncertainty about the global economic outlook and as upcoming 10-day holiday in Total 20 subsectors of the total 33 subsectors of the declined, with shares in Oil & Coal Products, Mining, Pharmaceutical, Construction, and Precision Instruments issues being notable losers, whereas Information & Communication, Other Products, Services, and Insurance issues being notable gainers. At closing bell, the 225-issue Nikkei Stock Average was up 150.85 points, or 0.7%, at 21,862.23. The broader index of all First Section issues on the dropped 1.17 points, or 0.07%, at 1,605.35.

Market participants concerns about the world's largest soothed after strong U. S. labor and data. Data released on Thursday showed first-time filings for U.

S. jobless benefits dropped to a 49-1/2-year low last week, pointing to sustained labor market strength. Overall prices increased 0.6% in March, the largest rise since October.

To mark the ascension of Japan's new emperor, the government has declared an unprecedented 10-day holiday from April 27 to May 6, which will the longest break ever for Japanese stocks and bonds.

Shares of fell more than 3% after the Japanese conglomerate said that China's has scrapped an agreement to take over Toshiba's U. S. liquefied business.

shed 0.5% after the industrial robot maker forecast operating profit for the current business year through February to fall 6.6%.

was down 12.4% after the cut its dividend forecast for the current financial year by 41%.

jumped 3% after filed for an initial public offering, paving the way for the U. S ride-sharing company to go public next month. SoftBank is Uber's biggest investor.

NEWS: The Japanese yen, widely viewed as a safe-haven currency, depreciated against the dollar on Friday, after strong U. S. labor and data soothed concerns about the world's largest The U. S. dollar was trading in the upper 111 yen-range on Friday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 12 2019. 11:22 IST