Nikkei flat, Effect of Intervention Reduced

Nikkei flat, Effect of Intervention Reduced

Nikkei nearly flat, is now up only 0.02% at 9052.69, after falling back into negative territory after the currency market intervention by Japanese authorities to weaken the JPY.


Market participants "know that the trend (yen strength) applicable will not change even if the Japanese to intervene unilaterally in the market," said Hideyuki Ishiguro, a supervisor at the investment strategy at Okasan Securities.

However, the index is likely to persist in 9000 for the remainder of the session, as market focus shifts to U.S. economic indicators in the coming days, he said.

12/33 Topix subindexes higher. Among companies that reported earnings during the afternoon session, Sumitomo Chemical fell 2.9% to Y297 after cutting operating profit.

Mitsubishi Estate fell 2.0% to Y1, 366 after its 1H operating profit to fall. Mitsubishi Heavy Industries rose 1.2% to Y329 after the company reported a net income increase per year in 1H. Nikkei 225 futures fell 0.1% in December 9040.