Nikkei closes marginally higher on buybacks after 6-session losing streak

Source: Xinhua| 2018-09-10 18:59:51|Editor: Yurou
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TOKYO, Sept. 10 (Xinhua) -- Tokyo stocks closed marginally higher Monday as investors sought out issues oversold after the Nikkei's six-session straight losing streak.

The 225-issue Nikkei Stock Average edged up 66.03 points, or 0.3 percent, from Friday to close the day at 22,373.09.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, inched 3.3 points, or 0.2 percent, higher at 1,687.61.

Following remarks made by U.S. President Donald Trump late last week about Washington taking steps to address its trade imbalance with Japan, stocks were pressured in early trade, local brokers said.

But shares gathered steam in later trade as investors sought out bargains from stocks oversold during the Nikkei's six-session losing streak, they added.

By the close of play, insurance, mining, and marine transportation-oriented issues comprised those that gained the most, and rising issues beat falling ones by 1,202 to 808 on the First Section, with 97 ending the day unchanged.

On the main section on Monday, 1,116.12 million shares changed hands, dropping from Friday's volume of 1,309.61 million shares.

The turnover on the first trading day of the week came to 1,875,202 (16.87 billion U.S. dollars).