Tokyo stocks close slightly higher amid lack of fresh cues

Source: Xinhua| 2019-04-22 19:05:02|Editor: Lu Hui
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TOKYO, April 22 (Xinhua) -- Tokyo stocks closed slightly higher Monday in directionless trade as some markets overseas were closed for the Easter holidays, with investors also awaiting the outcome of earnings reports from Japanese firms later this week.

The 225-issue Nikkei Stock Average edged 17.34 points, or 0.08 percent higher, from Friday to close the day at 22,217.90.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, finished 1.69 points, or 0.10 percent, higher at 1,618.62.

With major bourses overseas closed for the Easter holidays, investors were left without immediate cues, so trading got off to a directionless start local brokers said.

"Tokyo shares remained directionless throughout the day with many foreign market players away for the Easter holidays. The market is empty," Chihiro Ota, general manager of investment research at SMBC Nikko Securities Inc., was quoted as saying.

Market analysts also noted that amid a lack of fresh cues, some investors hit the sidelines to await upcoming earnings from major firms here due out later this week.

Adding to a lackluster mood Monday was the upcoming Golden Week string of national holidays in Japan, with some investors reluctant to make bold moves ahead of the 10-day break, investment strategists also highlighted.

By the close of play, mining and marine transportation issues comprised those that gained the most, and issues that declined outpaced those that advanced by 1,058 to 976 on the First Section, while 106 ended the day unchanged.

On the main section on Monday, 869.50 million shares changed hands, dropping from Friday's volume of 928.98 million shares.

The turnover on the first trading day of the week came to 1,626.3 billion yen (14.53 billion U.S. dollars).

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