August 25, 2017 / 6:46 AM / a year ago

Nikkei ends higher but posts 6th straight weekly loss

* Nikkei falls for 6th week, longest losing streak since Jan 2014

* Exporters, financials attract gains

* FamilyMart, Don Quijote soar on capital tie-up news

By Ayai Tomisawa

TOKYO, Aug 25 (Reuters) - Japanese stocks rose on Friday but posted their sixth straight weekly fall, their longest such losing streak since January 2014.

The Nikkei share average ended up 0.5 percent at 19,452.61 points, though activity was subdued as investors awaited speeches later in the day from a global central bankers’ symposium in Jackson Hole, Wyoming.

For the week, the Nikkei fell 0.09 percent.

The broader Topix gained 0.3 percent to 1,596.99, while turnover was only 1.714 trillion yen ($6.51 billion). A level below 2 trillion yen is considered thin.

Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are due to speak at the conference on Friday.

Market participants will be watching for any signals that the ECB is close to paring its bond purchases, though two sources have told Reuters that Draghi will not deliver any new policy message at the event.

“So far, the market expects no surprise from the meeting, but investors want to stay on the sidelines until they see how overseas markets move later in the day after the event,” said Yutaka Miura, a senior technical analyst at Mizuho Securities.

Miura said traders were likely to remain cautious amid lingering tensions between the United States and North Korea and concerns about a looming deadline for the United States government to raise its debt ceiling or risk defaulting on debt payments.

Exporters attracted buyers, as the dollar was steady at 109.59 yen after gaining 0.5 percent overnight.

Toyota Motor Corp gained 0.8 percent, Honda Motor Co rose 0.6 percent and Advantest Corp climbed 0.9 percent.

Financial stocks also rose. Mitsubishi UFJ Financial Group added 0.7 percent and insurer Dai-ichi Life Holdings rose 0.6 percent.

FamilyMart UNY Holdings Co Ltd jumped 4.0 percent, while Don Quijote Holdings surged 3.1 percent after saying it plans to buy a 40 percent stake in UNY Co., an unlisted business of FamilyMart UNY.

$1 = 109.6000 yen Editing by Kim Coghill

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below