Japanese Market Pares Gains

(RTTNews) - The Japanese stock market pared early gains and is modestly higher on Friday in the absence of fresh cues from Wall Street, which was closed overnight for a public holiday. Investors remained cautious amid worries that tensions between the U.S. and China over Hong Kong could delay a potential "phase one" trade deal.

Meanwhile, data showing that Japan's industrial output fell 4.2 percent in October from the previous month dampened investor sentiment.

The benchmark Nikkei 225 Index is adding 39.12 points or 0.17 percent to 23,448.26, after touching a high of 23,498.77 in early trades. Japanese shares closed lower on Thursday to snap a four-day winning streak.

Market heavyweight SoftBank Group is rising 0.6 percent and Fast Retailing is edging down 0.1 percent.

The major exporters are higher on a weaker yen. Panasonic is rising more than 3 percent, Sony is adding more than 1 percent, Mitsubishi Electric is higher by almost 1 percent and Canon is adding 0.3 percent.

In the tech space, Advantest is higher by more than 1 percent and Tokyo Electron is adding 0.5 percent. Among auto stocks, Honda Motor is rising 0.5 percent while Toyota Motor is down 0.3 percent.

In the oil sector, Inpex is advancing more than 1 percent, while Japan Petroleum is losing 0.4 percent.

Among the major gainers, Yokogawa Electric and Sumitomo Electric Industries are rising more than 3 percent each.

In the currency market, the U.S. dollar is trading in the mid 109 yen-range on Friday.

The U.S. markets were closed on Thursday for the Thanksgiving Day holiday.

The major European markets finished lower on Thursday. Germany's Dax shed 0.3 percent, while London's FTSE fell 0.2 percent and France's CAC 40 dipped 0.2 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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