Japanese shares rise slightly in choppy trading

Published: August 06, 2018 12:12:11 | Updated: August 10, 2018 11:46:23

Japan’s Nikkei share average edged up in choppy trade on Monday morning but gains were limited as investors remained cautious ahead of corporate earnings and trade talks between US and Japan.

The Nikkei gained 0.3 per cent to 22,598.26 in midmorning trade swinging between positive and negative territory.

Gainers on Monday included iron and drug stocks, while banking shares lost ground, reports Reuters.

Nippon Steel & Sumitomo Metal Corp surged 1.8 per cent, Astellas Pharma added 1.4 per cent, and Mitsubishi UFJ Financial Group dropped 1.5 per cent.

Eyes were on earnings releases, with NTT Data jumping 7.3 per cent after its April-June profits cheered the market.

The company’s net profit rose 23 per cent to 20.81 billion yen thanks to strong public infrastructure business in the domestic market.

Meanwhile, Isuzu Motors soared more than 3.0 per cent. The broader Topix gained 0.3 per cent to 1,746.92.

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