Most Japanese stocks fell on Tuesday as jitters in the US banking system weighed on domestic financials, while exporters got a boost from a weaker yen.
Broker Nomura Holdings Inc fell 1.98% to hit a new low for the year. Lender Resona Holdings Inc fell 1.03% and Renesas Electronics Corp rose 3.62%, leading the gains among chip-related stocks.
The Nikkei index hit a 16-month high of 29,278.80 points at the start of the session. But it ended up finishing just 0.12% higher, at 29,157.95, with bearers outpacing those showing gains.
Tokyo markets will be closed for the next three days to celebrate Japan’s Golden Week holiday, leaving the country’s stock traders very little room to react to the Federal Reserve meeting, as well as U.S. jobs and earnings data .
“A wait-and-see position is gaining momentum with the FOMC and other major events taking place in the US while Japan will be on consecutive holidays,” said Nobuhiko Kuramochi, market strategist at Mizuho Securities.
. In TOKYO, the Nikkei index advanced 0.12% to 29,157 points.
. In HONG KONG, the HANG SENG index rose 0.20% to 19,933 points.
. In SHANGHAI, the SSEC index remained closed.
. The CSI300 index, which brings together the major companies listed in SHANGHAI and SHENZHEN, was not operative.
. In SEOUL, the KOSPI index appreciated by 0.91%, to 2,524 points.
. In TAIWAN, the TAIEX index rose 0.37% to 15,636 points.
. In SINGAPORE, the STRAITS TIMES index gained 0.35% to 3,281 points.
. In SYDNEY, the S&P/ASX 200 index fell 0.92% to 7,267 points.
Source: Terra
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