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The Financial Express

Japanese shares edge down in choppy trade

| Updated: December 04, 2017 10:39:29


Evaly and Fianancial Express Evaly and Fianancial Express
File Photo (Collected) File Photo (Collected)

Japan’s Nikkei share average edged down on Friday morning, trimming earlier gains in choppy trade and led lower by real estate stocks.

Sharp Corp soared more than 8.0 per cent after the company said that it will return to the Tokyo Stock Exchange first section on Dec. 7, reports Reuters.

Traders said that the market may stay sluggish on Friday as the US Senate delayed voting on a Republican tax overhaul, and the news hurt sentiment during Asian trade.

The Nikkei, which opened up 0.8 per cent, turned negative and was down 0.1 per cent to 22,695.83 in midmorning trade. For the week, the index has gained 0.6 per cent so far.

Realtors Mitsui Fudosan declined 1.6 per cent and Mitsubishi Estate shed 1.0 per cent.

Oil and steel stocks outperformed, with Showa Shell Sekiyu rising 1.0 per cent and Nippon Steel & Sumitomo Metal Corp soaring 2.1 per cent.

Exporters were mixed, with Honda Motor Co rising 0.4 per cent, Panasonic Corp shedding 1.4 per cent and Nintendo Co falling 0.2 per cent.

The broader Topix declined 0.1 per cent to 1,789.65.

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