The stock market in Japan ended almost flat on Thursday. Investors took it easy after the rally in recent weeks.
A disappointing job report from the American pay slip processor ADP caused some reticence. The positive developments around the corona vaccines and the hope for more stimulus measures actually supported the trade.
The Nikkei in Tokyo finally closed a fraction higher at 26,809.37 points. The Japanese main index thus remained around the highest level in more than 29 years. The Japanese government’s pledge to increase government spending fueled hopes for further economic recovery.
Companies benefiting from accelerating economic growth, such as real estate companies, industrial companies and banks, were top-rated. Railway company Central Japan Railway was among the strongest risers with a profit of 2.7 percent.
The other stock market indicators in the Asian region showed mainly small gains. In Seoul, the Kospi won 0.6 percent and the All Ordinaries in Sydney climbed 0.4 percent. In Shanghai, the main index was 0.2 percent lower in the meantime, and the Hang Seng index in Hong Kong rose 0.7 percent.
Figures from market researchers Caixin and Markit showed that activity in the Chinese services sector increased further in November compared to a month earlier.