REFILE-Japanese shares edge up, World Expo-related shares lifted

  • Reuters
  • Stock Market News
REFILE-Japanese shares edge up, World Expo-related shares lifted
Credit: © Reuters.

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* Nikkei up 0.6 percent, Topix adds 0.15 percent

* Companies seen benefiting from Osaka's hosting of Expo rise

* Oil-related stocks retreat amid slumping crude oil prices

By Shinichi Saoshiro

TOKYO, Nov 26 (Reuters) - Japanese shares edged up on Monday, taking Wall Street losses in stride while stocks seen benefiting from an upcoming World Expo advanced.

The Nikkei share average .N225 added 0.6 percent to 21,780.72, headed for its second session of gains.

The broader Topix .TOPX was up 0.15 percent at 1,631.34.

"The domestic equity market has shown some resilience recently, shaking off some of the correlation with Wall Street," said Takashi Hiroki, chief strategist at Monex Securities.

"Market focus is shifting towards factors linked to domestic demand, with the latest example being Osaka's hosting of the World Expo."

The western Japanese city of Osaka won the bid to host the 2025 World Expo at the weekend. of companies with ties to the Osaka region gained, with the World Expo seen providing a significant economic boost.

Keihan Holdings 9045.T , which operates railways in the Osaka region, gained 0.65 percent. Fellow railway operator Nankai Electric Railway Co 9044.T advanced 3.55 percent. Kamigumi Co 9364.T , a provider of logistics services in the region, added 3 percent.

Construction companies based in Western Japan also rose, with Zenitaka Corp 1811.T up 1.4 percent and Okumura Corp 1833.T advancing 1.8 percent. The Tokyo Stock Exchange (TSE) construction sub-index .ICNST.T climbed 0.7 percent.

Alps Electric 6770.T climbed 5.4 percent after the electronic component maker announced that it will buy back 40 billion yen ($354 million) of its own shares following a planned merger with Alpine Electronics Inc 6816.T in January 2019. Industries Ltd 6367.T rose 2 percent after the air conditioning equipment maker said it plans to buy Austria-based AHT Cooling Systems. product majors Inpex Corp 1605.T and JXTG Holdings Inc 5020.T declined 3.5 percent and 2.8 percent, respectively, hurt by crude oil prices slumping to 13-month lows. The TSE oil and coal sub-index .IPETE.T fell 2.2 percent. ($1 = 112.91 yen)

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