December 26, 2017 / 6:22 AM / 3 months ago

Nikkei slips in thin holiday trade, retailers advance

TOKYO, Dec 26 (Reuters) - Japan’s Nikkei share average slipped on Tuesday, confined in a tight range amid a paucity of catalysts from other markets, while gains in Takashimaya on upbeat earnings lifted retailers.

The Nikkei ended the day 0.2 percent lower at 22,892.69 amid low trading volume, without the usual global market leads with many other financial centres shut on Monday for Christmas.

Department store chain operator Takashimaya Co was among the biggest percentage gainers in the index. It rose 3.7 percent after it posted a 5.6 percent rise in operating profit for the nine months through November on strong demand from domestic customers and foreign visitors.

Other retailers rose in tow, with Isetan Mitsukoshi Holdings gaining 2.2 percent, Marui Group rising 2.7 percent and Kintetsu Department Store Co adding 1.9 percent.

Clothing retailer Shimamura Co, however, slipped 5 percent after it suffered an 11.3 percent operating profit drop for the nine months through November amid sluggish winter apparel sales.

Of Tokyo’s 33 subindexes, 27 were in the red, dragged by electrical machinery and non-ferrous metals . Services and retailers led the gainers.

The broader Topix .TOPX was 0.27 percent lower at 1,827.01. (Reporting by Shinichi Saoshiro; Editing by Shri Navaratnam)

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