Japanese stocks ticked up slightly on Wednesday with gains limited ahead of a much-anticipated press conference by US President-elect Donald Trump later in the day.
The Nikkei share average rose 0.3 per cent to 19,364.67, after falling for the past three days.
The broader Topix gained 0.5 per cent to 1,550.40 and the JPX-Nikkei Index 400 rose 0.5 per cent to 13,886.42.
Trum
Trump’s news conference - his first since winning the election in November - will be held later in the global day.
Fujito said many investors are focused on Trump’s promises to provide more stimulus and cut taxes to boost US growth, while there is also anxiety on his protectionist stance.
“If he points his finger at a specific Japanese company again, Japanese stocks may get hit so investors are staying on the sidelines today,” Fujito said, referring to Trump’s threat on Toyota Motor Corp last week over the automaker’s Mexico manufacturing plan.
Trump has criticised US companies like General Motors and Ford Motor Co which manufacture abroad, accusing them of costing US jobs.
‘Big border tax’
On Thursday he took on Toyota, warning the world’s largest automaker that it would face a “big border tax” if it exported Mexico-built cars to the US market.
Exporters were mixed, with Toyota gaining 0.6 per cent, while Honda Motor Co and Nissan Motor Co were almost flat. Panasonic Corp advanced 1.2 per cent.
Toshiba Corp jumped 6.5 per cent after sources said that Toshiba’s creditors agreed to support the company, giving the troubled firm time to work out a turnaround plan.