Asian stock markets were muted Thursday, with Tokyo trading flat, and Hong Kong, Shanghai and Seoul closed on holiday. With regional markets near record highs, traders are in a holding mode and awaiting the U.S. Friday jobs report or other cues, said analysts.
In Tokyo, the Nikkei 225 traded flat, closing up 0.01%, as traders took profits from a market near two-year highs, and took to sidelines ahead of the U.S. jobs report, and clues it might have for Federal Reserve policy.
In other news, U.S. private-equity firm Bain Capital said it plans to list Toshiba’s (TOSYY, 6502:Tokyo) chip business on the Tokyo Stock Exchange within three years, Bain recently led an $18 billion acquisition chip-manufacturing unit. Bain on Monday revealed a $1.35 billion bid for ad agency Asatsu-DK (9747:Tokyo).
Also, President Donald Trump and Japan Prime Minister Shinzo Abe have set Nov. 6 for a summit In Tokyo. Trade and North Korea are on the agenda.
The benchmark Nikkei 225 gained 1.90 to 20,628.56, although losing issues outnumbered gainers 199 to 98, making for a mixed day.
Leading the upside were frozen-foods purveyor Nippon Suisan Kaisha (NISUF, 1332:Tokyo), up 6.1%; followed by the beverage house Asahi Holdings (ASBRF, 2502:Tokyo), up 5.6%; and then Sapporo Holdings (SOOBF, 2501:Tokyo), up 4.4%.
On the downside were chemical-concern Showa Denko (SHWDY, 4004:Tokyo), off 2.8%; and then Nippon Express (NPEXY, 9062:Tokyo), off 2.7%.
On the other exchanges, the Taiwan TWSE rose 0.47%; the Australian ASX 200 declined 0.01%; the Singapore Straits Times Index gained 0.78%; and the Thai Set gained 0.18%. In late trading in Mumbai, the Sensex was up 0.47%. Indian IPOS may top $5 billion in 2017 for an annual record-high, the Business Standard reported.