Tokyo Stocks End Mixed Amid Caution Before Japan PM Vote

Tokyo: Tokyo stocks ended mixed on Monday amid a risk-off mood as Japan’s lower house held a runoff vote to choose the Prime Minister for the first time in three decades.

Leader of Japan’s Liberal Democratic Party (LDP) Shigeru Ishiba was re-elected as the country’s Prime Minister on Monday after securing the most votes in both houses of the Japanese Diet.

Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 32.95 points, or 0.08 per cent, from Friday at 39,533.32, reports Xinhua news agency.

The broader Topix index, meanwhile, finished 2.47 points, or 0.09 per cent, lower at 2,739.68.

On the stock market, the benchmark Nikkei initially tracked gains on all-time Wall Street highs late last week. But it was mostly directionless amid a cautious mood as the prime ministerial vote went to a runoff for the first time in 30 years after the ruling coalition lost its majority in the powerful House of Representatives in the general election last month.

Meanwhile, disappointing earnings results released by some Japanese firms Friday also dampened sentiment, analysts said.

(IANS)