Tokyo stocks open higher on buybacks amid thin trading

09:34, December 26, 2019

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  Tokyo stocks close higher on buybacks in thin trading

  TOKYO, Dec. 26 (Xinhua) -- Tokyo stocks closed higher on Thursday as investors opted to buy back a wide range of issues deemed oversold following the markets drop the previous day.File photo: APThe 225-issue Nikkei Stock Average gained 142.05 points, or 0.60 percent, from Wednesday to close the day at 23,924.92.The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 9.78 points, or 0.57 percent, to finish at 1,731.20.Buying got off to a reasonably bright start, local brokers said, with investors mainly motivated by the markets retreat the previous day, which allowed them to buy back issues oversold at reasonable valuations.They added, however, that in later trade the market showed signs of turning as there were no fresh trading cues and many foreign and institutional investors were away for Christmas holidays, with a number of key overseas markets also closed."The rally was nothing more than a result of bargain-hunting, with no domestic or global factors in play," Shingo Ide, chief equity strategist at the NLI Research Institute, was quoted as saying.Hiroyasu Mori of the investment strategy department at Okachi Securities, said, meanwhile, that the markets rise could be expected after the previous days drop and investors were assuming that shares would rise henceforth."There were no major factors behind the rise and it was a natural rebound after a fall. Market players appear to be betting shares will rise after tomorrow, which is effectively the start of new year trade," Mori said.Some issues offering high dividend yields found favor Thursday which was the last day for end-of-year payouts from firms who operate by the calendar year.Among these, Kuraray rose 0.7 percent, while Yamaha Motor advanced 1.1 percent.Cyclical issues and those heavily exposed to external factors also attracted buying, with Tokyo Electron gaining 1.2 percent, while Screen Holdings added 0.9 percent. Yaskawa Ele...

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  Tokyo stocks flat in directionless trade amid Christmas holidays

  In this Thursday, Nov. 21, 2019, photo, a man walks by an electronic stock board of a securities firm in Tokyo.(File photo: AP)TOKYO, Dec. 25 (Xinhua) -- Tokyo stocks opened essentially flat Wednesday in directionless trade, with many foreign investors away for the Christmas holidays.As of 9:15 a.m., the 225-issue Nikkei Stock Average shed 23.39 points, or 0.10 percent, from Tuesday to 23,807.19.The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 3.19 points, or 0.18 percent, at 1,725.03.Glass and ceramic product, and rubber product issues led notable decliners, while pharmaceutical, and warehousing and harbor transportation service issues comprised those that gained the most in the opening minutes after the morning bell.

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  Hong Kong stocks open higher

  File photoHong Kong shares rose at the open on Friday after the Christmas break, following more record finishes on Wall Street.The Hang Seng Index added 0.61 percent, or 169.45 points, to 28,033.66 in early trade.The benchmark Shanghai Composite Index slipped 0.02 percent, or 0.50 points, to 3,006.85, but the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, opened 0.16 percent, or 2.75 points, higher at 1,712.20.