The Japanese Stock Exchange Closed Slightly Higher on Friday

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The Japanese stock exchange closed slightly higher on Friday. Investors took little risk ahead of the long weekend in Japan.

 

The financial markets in Tokyo are closed on Mondays and Tuesdays due to public holidays. The other major stock market indicators in the Asian region also showed predominantly small gains.

The leading Nikkei in Tokyo eventually ended with a plus of 0.2 percent at 23,360.30 points. The Japanese railway companies East Japan Railway and West Japan Railway were picked up after the recent heavy price losses and rose 2.4 percent and 1.7 percent.

Telecom groups, on the other hand, remained under pressure following the call by new Japanese Prime Minister Yoshihide Suga to cut mobile phone rates. Telecom providers such as NTT Docomo, KDDI and SoftBank fell to 4.1 percent.

The stock market in Shanghai was a positive outlier and posted an interim profit of 1.4 percent. The Hang Seng index in Hong Kong climbed 0.4 percent. The Chinese technology companies showed a mixed picture after the price losses among American peers.

Tech giant Tencent fell more than 1 percent and smartphone manufacturer Xiaomi climbed more than 3 percent. The Kospi in Seoul won 0.2 percent, and the Australian All Ordinaries in Sydney fell 0.1 percent.

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