Jiji Press TOKYO (Jiji Press) — Stocks turned modestly higher on the Tokyo Stock Exchange on Monday, while investors were holding active trading in check due to a dearth of major incentives.
The TOPIX index of all First Section issues closed up 1.84 points, or 0.12 percent, at 1,547.74, after losing 14.00 points the previous trading day. The 225-issue Nikkei average rose 27.35 points, or 0.13 percent, to end at 21,285.99. On Friday, the key market gauge fell 204.22 points.
The market got off to a weak start following a downturn in U.S. equities on Friday caused by the Commerce Department’s ban on transactions with a Chinese supercomputer maker and related firms.
Both indexes remained in negative territory for most of the morning session, although they showed some resilience thanks to buying induced by Shanghai stocks’ strength and higher U.S. index futures in off-hours trading, brokers said.
In the afternoon, the market turned buoyant, albeit modestly, amid renewed expectations for progress in U.S.-China trade negotiations, after a media report cited Chinese Vice Commerce Minister Wang Shouwen as saying that the talks are going on and both Washington and Beijing should compromise.
Rising issues outnumbered falling ones 1,066 to 966 in the TSE’s First Section, while 113 issues were unchanged.
Volume plunged to 830 million shares from Friday’s 1.536 billion shares.