Japan shares end flat as profit-taking caps gain amid holiday mood
By Stanley White
TOKYO, Dec 24 (Reuters) - Japanese shares ended nearly unchanged on Tuesday ahead of Christmas holidays, as some investors booked profits to cash in on a recent rally sparked by a preliminary U.S.-China trade deal.
The Nikkei index closed up 0.04% at 23,830.58. The Nikkei has advanced 19% so far this year and many investors have been closing out positions this month to book gains on this rally.
Trading is expected to be subdued as many financial markets will start closing from Tuesday for Christmas holidays.
Japanese shares started higher, taking their lead from a record closing high on Wall Street on Monday, after U.S. President Donald Trump calmed nerves by saying Washington is on track to sign a deal with Beijing to de-escalate a bruising trade war.
However, gains in Japanese stocks quickly faded as the year-end holiday mood started to set in.
The broader Topix .TOPX dipped 0.07% to 1,728.22, with decliners slightly outnumbering advancers by a ratio of 51 to 49.
The turnover on the Tokyo Stock Exchange's main board was 1.286 trillion yen, the lowest level in more than four years.
Some technology shares continued to gain, including Taiyo Yuden 6976.T , Yokogawa Electric 6841.T and Advantest 6857.T . They rose 2.5%, 1.6% and 1.3%, respectively.
Insurers were among the biggest losers, with T&D Holdings 8795.T falling 1.7%, Dai-ichi Life Holdings 8750.T down 1.4% and Sompo Holdings 6178.T losing 1.3%.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or