TOKYO Dec 19 Japanese stocks edged down in thin
trade on Monday, snapping a nine-day rally as a pullback on Wall
Street prompted investors to cash in on outperformers such as
exporters and banks.
The Nikkei share average shed 0.1 percent to
19,391.60 after soaring 6.2 percent in the past nine days,
mainly supported by a weak yen as the dollar rose broadly on
expectations of a faster pace of U.S. interest rate hikes next
The Bank of Japan began a two-day policy meeting, at which it
is expected to stand pat on its 10-year government bond yield
target as the weaker yen helps Japan's economic prospects, a
Reuters poll showed on Friday.
Analysts said that trading volume will likely be subdued
this week as foreign investors head off on Christmas holidays.
Monday's trading volume and turnover on the main board were
thin, with only 1.74 billion shares changing hands, the lowest
since November 8. Turnover was 2.14 trillion yen, also the
lowest since the same day.
The Topix dropped 0.1 percent to 1,549.06 and the
JPX-Nikkei Index 400 was down 0.04 percent to
(Reporting by Ayai Tomisawa; Editing by Shri Navaratnam)