Japanese stocks made modest gains on Monday, after investors perceived the US-led attacks on Syria as an isolated event, but were nonetheless worried about the possibility of a large-scale tariff war.
“Assuming that it was an isolated attack and that there will be no more bombings, I think the market reaction in Tokyo will be limited, it was within expectations and I think the market has already incorporated it,” said Itsuo Toshima, market operations analyst. of the firm Toshima & Associates.
At the end of the session, the Nikkei index gained 0.26% to 21,836 points, while the Topix benchmark rose 0.40% to 1,736.22 points.
Investors turned to lower risk stocks and domestic consumption oriented papers, which led Monday’s gains in Tokyo, since they are not entirely convinced that it is possible to avoid a tariff war in the face of the US-China row.
Shares linked to pharmaceuticals rose 2.1%, while the retail sector added 1.1%.