Tokyo stocks end flat amid concerns over protectionist direction of U.S. trade policies

Source: Xinhua| 2018-03-15 17:29:09|Editor: Jiaxin
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TOKYO, March 15 (Xinhua) -- Tokyo stocks ended essentially flat Thursday as concerns over U.S. President Donald Trump's protectionist trade policies were counteracted by expectations the central bank here would purchase exchange-traded funds (ETFs).

The 225-issue Nikkei Stock Average edged up 26.66 points, or 0.12 percent, from Wednesday to close the day at 21,803.95.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 0.39 point, or 0.02 percent, higher at 1,743.60.

Local brokers said that further remarks made by U.S. President Donald Trump regarding increasing tariffs on countries' imports to address perceived trade imbalances rattled the market and stoked concerns about reprisals against the move sparking a trade war.

They added that the yen's rise against the U.S. dollar added to investor woes and also prompted selling.

Losses were trimmed in later trade, however, market analysts said, on expectations the Bank of Japan would support the market by purchasing ETFs.

But ongoing concerns about about an influence-peddling scandal implicating Prime Minister Shinzo Abe and the Finance Ministry, related to the sale of cut-price state land to a nationalist school operator and the tampering of state documents, caused some investors to hit the sidelines, traders here said.

Retail and real estate issues comprised notable gainers by the close, while marine transportation, and oil and coal product issues were among those that declined the most.

Declining issues beat advancing ones by 1,214 to 759 on the First Section, with 98 ending the day unchanged.

On the main section on Thursday, 1,174.63 million shares changed hands, rising from Wednesday's volume of 1,156.09 million shares.

The turnover on the penultimate trading day of the week came to 2,235.0 billion yen (21.07 billion U.S. dollars).

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