Nikkei closes higher as shipping sector gains erase retail losses

Japan’s Nikkei index rose on Tuesday, and gains in shipping and chip stocks erased losses in the retail sector

The market generally moved within a very narrow range amid the scarcity of indicators that would move trading trends and with the absence of many investors due to the end-of-year holidays.

According to Reuters, the Nikkei closed up 0.16 5 at 33,305.85 points, while the broader Topix index ended up 0.06%.

Trading volume reached about 680 million shares on Tuesday, after falling to the lowest level in eight months at 590 million shares on Monday.

The shipping companies sector witnessed a volatile session, but at the end of trading it was the best performing among the 33 sub-sectors on the Tokyo Stock Exchange, after it rose 1.2 percent. Nippon Yushin shares increased 1.63%, and Mitsui OSK Lines shares increased 1.53%.

Chip stocks rose in the afternoon, and Tokyo Electron and Advantest on Tuesday were the biggest point gainers on the Nikkei index, rising 1.1 percent and 1.62 percent, respectively.

Takashimaya Retail shares fell 3.16% despite the company announcing strong profits after the market closed on Monday. Its shares rose 2.36% the previous day before the results were announced

Fast Retailing, which owns the Uniqlo clothing brand, fell 0.39%, and was the biggest loser in points on the Nikkei index.