Topix Trades in Tight Range as Volume Sinks; SoftBank Dominates

Japanese shares traded in a tight range amid a lull in activity, as oil companies led gains following a jump in crude prices while so-called defensive stocks dropped.

The Topix slipped less than 0.1 percent to 1,315.94 at the trading break in Tokyo, with volume 36 percent below the 30-day intraday average. The benchmark index traded between gains and losses of as much as 0.2 percent. Its 20-day correlation with the yen slumped to the lowest this year, meaning equities and the currency are moving more independently from each other. The Nikkei 225 was down 0.3 percent, while a measure tracking its volatility sank to near its lowest level since August.

Source : Bloomberg

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