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Tokyo shares end flat ahead of US data, Fed speech
TOKYO, Aug 22, 2019 (BSS/AFP) – Tokyo stocks closed flat on Thursday with
investors in wait-and-see mode ahead of key US data expected later in the day
and a speech by the Fed chairman the next day.
The benchmark Nikkei 225 index inched up 0.05 percent, or 9.44 points, to
end at 20,628.01, while the broader Topix index added 0.04 percent, or 0.55
points, to 1,498.06.
Many players refrained from taking an overly bullish position as they
await key US data expected later in the day, including initial jobless claims
and PMI data.
Also attracting the global market’s attention was a speech on Friday by
Fed chair Jerome Powell, who is facing pressure from President Donald Trump
to cut the policy rate.
Powell is scheduled to address the annual central bankers’ symposium in
the western US city of Jackson Hole.
“Trade was sluggish due to a lack of fresh incentives,” Okasan Online
Securities said in a note to clients.
It added that the market moved in a narrow range ahead of the release of
major economic indicators and Powell’s speech.
The dollar traded at 106.31 yen in Asia against 106.63 yen in New York on
Wednesday.
Among major shares, robot maker Fanuc rose 0.32 percent to 18,375 yen and
major semiconductor test equipment supplier Advantest jumped 1.58 percent to
4,175 yen.
Construction equipment producer Komatsu added 0.24 percent to 2.251.5 yen.
Nintendo was down 0.12 percent to 40,180 yen, while Sony dropped 2.40
percent to 5,851 yen.
BSS/AFP/HR/1315