Nikkei edges up as gains by banks offset weak mining stocks

miércoles 31 de agosto de 2016 22:45 GYT
 

* Banking sector hits more than 4-month high

* Directionless trade to persist through Friday - analysts

By Ayai Tomisawa

TOKYO, Sept 1 (Reuters) - Japanese stocks edged up in choppy trade on Thursday morning as gains by banks offset weak mining shares, while many investors waited for jobs data to provide clues on when there will be U.S. rate hike.

The Nikkei share average, which moved in and out of positive territory, was up 0.1 percent at the mid-morning break.

Friday's U.S. unemployment data remains a key focus, after Federal Reserve Vice Chair Stanley Fischer said last week the jobs data will be a factor in determining when the central bank hikes rates.

Traders said that as the weak yen trend has paused, Japanese stocks will likely be directionless until further clues come on the timing of Fed action.

"Most investors seem to be happy seeing the dollar trading around 103.50 level," said Kazuhiro Takahashi, equity strategist at Daiwa Securities. "They probably won't buy or sell sharply this week."

On Thursday, the dollar was down 0.2 percent at 103.20 yen , after rising as high as 103.54, its highest since July 29.   Continuación...