TOKYO (AFP) – Tokyo investors will eye US data next week, including the Fed’s key Beige Book regional economies report, after eurozone worries helped drag the Japanese market lower in the first trading week of 2015.
On Friday, the Nikkei 225 at the Tokyo Stock Exchange added 0.18 per cent, or 30.63 points, to finish at 17,197.73 – but the benchmark index slipped 1.45 per cent over the week.
The Topix index of all first-section shares ended up 0.21 per cent, or 2.91 points, at 1,380.58. It fell 1.91 per cent in the first five days of trading this year.
The Nikkei came under heavy pressure from a global selloff fuelled by worries the eurozone was slipping into deflation and political turmoil in Greece, which has fanned fears it could exit the currency bloc.
Debt-addled Greece is holding elections later this month that could see a victory for a party opposed to austerity measures required under an international bailout.
The collapse of global oil prices, which slid below $50 a barrel during the week, also weighed on sentiment.
Next week, US data is expected to set the tone for Toko trading, including retail sales for December as well as the Beige Book.
“US holiday sales reportedly had a slow start, but gradually heated up shortly before Christmas,” Daiwa Securities said in a client note.
“If (retail data) come out better than expected, it could lift spirits in US and Japanese markets.”
US jobs figures, to be released later Friday, will be another key gauge for the market next week, the brokerage house said.
The Tokyo stock exchange will resume trading on Tuesday, after a public holiday on Monday.