TOKYO: Japan’s Nikkei share average fell for a fourth straight session on Monday, tracking Wall Street’s weak performance last week, amid absence of market-moving cues due to a US market holiday.
The Nikkei edged down 0.11% to close at 27,619.61, while the broader Topix had inched down 0.07% to 1,928.79.
U.S stocks ended the trading week on a subdued note on Friday, as early gains from a jobs report that showed a labour market that may be starting to loosen gave way to worries about the European gas crisis.
“The market was open today but the number of participants was limited as investors are not motivated to make active bets ahead of US labour day holiday,” said Chihiro Ota, assistant general manager of investment research and investor services at SMBC Nikko Securities
“There aren’t any market-moving events and trading volume is very thin.”
The volume of shares traded on the Tokyo Stock Exchange’s main board was 0.85 billion, compared to the average of 1.13 billion in the past 30 days.
Uniqlo clothing store owner Fast Retailing dragged the benchmark index the most, falling 1.24%, even after its same store sales for August rose nearly 15%.
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Medical equipment maker Terumo lost 0.25% and Toyota Motor’s parts maker affiliate Denso slipped 2.07%.
Regional lender Jimoto Holdings tumbled 8.5% after flagging an annual net loss.
Energy shares rose, with refiners and explores gaining 1.06% and 0.83%, respectively, after oil prices jumped. There were 96 advancers on the Nikkei index against 124 decliners.
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