INSUBCONTINENT EXCLUSIVE:
TOKYO: Japan's Nikkei share average snapped a four-session losing streak on Monday, although gains were limited as much
weaker-than-expected US job data dimmed the outlook for the global economy.
The Nikkei ended the day up 0.47 per cent at 21,125.09
The index crawled back towards a three-month peak of 21,860.39 scaled a week ago.
"Stock prices appeared at a bargain following successive
losses and this drove most of the bids
Demand in the market, however, was limited ahead of this week's various economic data releases and Brexit proceedings," said Chihiro Ohta,
equity general manager at SMBC Nikko Securities.
The British parliament will vote on Tuesday on Prime Minister Theresa May's Brexit
deal.
Data released on Friday showed US employment growth almost stalled in February, with the economy creating only 20,000 jobs, adding to
signs of a sharp slowdown in economic activity in the first quarter
Wall Street's main indices fell for the fifth day on Friday in wake of the jobs report.
"While it's too early to brace for a recession
gripping the United States, a slowing economy is something to worry about," said Yoshinori Shigemi, global market strategist at JPMorgan
Asset Management.
Shares of exporters such as automakers gained as the dollar clung above the 111.00 yen threshold despite the recent
decline in US bond yields.
Toyota Motor Corp added 0.7 per cent, Nissan Motor Co gained 1.1 per cent and Honda Motor Co rose 0.7 per
cent.
Hitachi Chemical was untraded, flooded with buy orders after a report that parent company Hitachi Ltd was considering a sale of its
stake at a hefty premium of more than 40 per cent.
Hitachi Ltd is looking to offload its 51 per cent stake in Hitachi Chemical for more than
300 billion yen ($2.70 billion), Kyodo news reported after the market closed on Friday.
Healthcare and medical device maker Omron Corp was
also untraded due to a glut of buy orders following the company's inclusion to the Nikkei 225 starting March 18.
Torikizoku Co sank 4.6
per cent after the grilled chicken restaurant chain operator revised its net profit forecast for the year through July 2019 to a loss of 356
million yen ($3.21 million) from a gain of 747 million yen.
Of the 33 subsectors on the Tokyo Stock Exchange, 25 ended the day in positive
territory, led by electricity and gas .
The broader Topix advanced 0.57 per cent to 1,581.44.
