INSUBCONTINENT EXCLUSIVE:
TOKYO: Japan's Nikkei share average snapped a three-day losing streak to close higher on Friday, after Wall Street shares clawed back some
of their sharp losses.
Wider gains were capped, however, by resurgent concerns about the United States -China trade conflict and caution
ahead of the United States non-farm jobs report due later on Friday.
The Nikkei ended the session up 0.8 per cent at 21,678.68
The index has dropped 3 per cent so far this week, weighed by worries about slowing momentum in the United States economy and as trade
fears whacked global equity markets.
"The bounce in United States shares has helped, but the overall situation has not changed much
There are still trade issues the market has to worry about," said Yoshinori Ogawa, senior strategist at Okasan Securities.
"The market has
been moving up and down, tracking the ebb and flow in United States -China trade tensions, and is likely to remain unstable next
week."
Reflecting the cautious mood, defensive shares such as consumer staples, healthcare and utilities made gains.
Convenience store
operator Familymart UNY Holdings was up 3.3 per cent, healthcare product maker Kao Corp rose 2.4 per cent and Tokyo Electric Power Co
Holdings added 2.6 per cent.
Fujitsu Ltd advanced 3.1 per cent and NEC climbed 1.7 per cent on expectations telecommunications equipment
demand would increase after the Japan said it plans to ban government equipment purchases from China's Huawei Technologies Co Ltd and ZTE
Corp .
Yamato Holdings rose 3.4 per cent after the transport service company said its delivery of small parcels increased 3.6 per cent in
November from previous year.
Textile company Kurabo Industries Ltd jumped 6.6 per cent after Nikkei business daily reported that internet
clothing retailer ZOZO Inc will use threads made by Kurabo for their clothing brand.
Petroleum product majors Inpex Corp and Japan Petroleum
Exploration Co fell 1.1 per cent and 2.1 per cent, respectively, as crude oil prices slumped on OPEC's decision to delay a final decision
on output cuts.
Oil refiners Idemitsu Kosan and Showa Shell Sekiyu KK ended down 4.5 per cent and 3.8 per cent, respectively.
The Tokyo
Stock Exchange's (TSE) oil and coal subindex fell 2.9 per cent, leading the decliners
Of TSE's 33 subindexes, 21 ended the day on gains.
The broader Topix ended 0.61 per cent firmer at 1,620.45.
