Retailers fall Tuesday
Japan's Nikkei share averageedged higher on Tuesday as gains for shippers and chip stocksoutweighed declines for retailers.
Overall, though, the market fluctuated in very narrow rangesamid a dearth of trading cues and with many market participantsaway for year-end holidays.
The Nikkei finished 0.16% higher at 33,305.85, whilethe broader Topix added 0.06%.
"You don't get a sense of any real direction from movementsin the stock market today," said Maki Sawada, a strategist atNomura Securities.
"The Nikkei feels like its latched closely to the previousday's closing level," as thin trading conditions continue withmany market participants absent, she said.
Volume of trade was about 680 million shares on Tuesday,after dropping to an eight-month low of 590 million shares onMonday.
Shippers saw a volatile session, but ended as thebest performer among the Tokyo Stock Exchange's 33 industrygroups, gaining 1.2%. Nippon Yusen rose 1.63% andMitsui O.S.K. Lines advanced 1.53%.
Chip stocks turned higher in the afternoon, with TokyoElectron and Advantest ending the day as thebiggest points gainers on the Nikkei, with respective 1.1% and1.62% rises.
At the other end, Odakyu Electric Railway, whichoperates department stores as well as trains, lost 4.22% to bethe Nikkei's biggest percentage decliner.
Retailer Takashimaya was next with a 3.16% drop,despite reporting solid earnings after Monday's market close. Ithad climbed 2.36% the previous day in the run-up to the results.J. Front Retailing fell 2.53%, ahead of its ownfinancial report after Tuesday's close.
Uniqlo store owner Fast Retailing sank 0.39%, whichwas enough to make it the Nikkei's biggest points decliner dueto its outsized weighting.(Reporting by Kevin Buckland; Editing by Sonia Cheema andMrigank Dhaniwala)