Tokyo: Nikkei steady as China data arrives in-line with expectations

[TOKYO] Japanese stocks were marginally higher after a day of light trading as fresh economic indicators from China arrived in line with expectations.

The Nikkei share average rose 0.1 per cent to end the day at 19,691.39. It was the sixth consecutive day of gains for the benchmark index.

Data released Wednesday afternoon showed retail sales in China rose 11.0 per cent year-on-year in October, just slightly higher than the 10.9 per cent predicted by a Reuters poll. Urban investment rose by 10.2 per cent in October, in-line with expectations, while China's industrial production grew 5.6 per cent versus the 5.8 per cent forecast by a Reuters poll.

The Topix subindex for textiles added 2.3 per cent and the retail sector gained 1.4 per cent.

The session's modest advance continues a run of gains on the Nikkei, which continued to climb even as the yen strengthened to the 122 handle after multiple sessions at the 123 handle.

The broader Topix added 0.4 per cent to end the day at 1,595.32 and the JPX-Nikkei Index 400 gained 0.4 per cent to 14,368.05.

REUTERS