Japanese shares eked out small gains on Wednesday, capping the fifth straight session of rises but lacked traction with uncertainties on global inflation and domestic infections keeping investors from testing major resistances on the upside.
Japanese shares were little
changed on Wednesday, with their rally from 4-month lows showing
signs of losing steam, as investors grapple with uncertainties
on global inflation outlook and the. | May 26, 2021
By Reuters Staff
2 Min Read
TOKYO, May 26 (Reuters) - Japanese shares eked out small gains on Wednesday, capping the fifth straight session of rises but lacked traction with uncertainties on global inflation and domestic infections keeping investors from testing major resistances on the upside.
The Nikkei share average added 0.31% to 28,642.19, extending its recovery from a four-month low hit earlier this month, but it faced multiple resistances around the current levels, including the 25-day average at 28,717 and 100-day average at 28,933.
The broader Topix ticked up 0.06% to 1,920.67.
“Lots of players, prop traders, retails and quants, are all active in range-trading around the current levels,” said Takeo Kamai, head of execution services at CLSA.
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