Nikkei rises despite fragile sentiment due to domestic and foreign pressures
Japan's Nikkei closed higher Wednesday in a generally cautious market, while data showed another drop in the country's exports in April, overshadowed by positive economic indicators.
Export and technology companies trimmed their early gains and the Nikkei closed 0.1 percent higher at 21,283.37 points after moving in a narrow range as sentiment remained fragile in the absence of signs of a reduction in the US-China trade war.
Earlier in the day, data showed that Japan's exports contracted for the fifth month in April, and although orders for machinery rebounded unexpectedly, economic prospects point to a difficult period ahead.
The dollar hit a two-week high of 110.675 yen in the previous session, before retreating to $ 110.48 by 0625 GMT.
The shares of the electrical components companies, which fell in the previous session, recovered slightly. Morata Manufacturing gained 0.3%, Hitachi High Technologies gained 1.2% and Taiwan's Taewoo gained 3.2%.
Leopalas rose 5.7% after disclosing that Renault KK had increased its stake in the company to 14.13% from 12.56%.
Suzuki Motor Co slipped 5.5% after sources told Reuters that India's antitrust authorities were examining allegations that Maruti Suzuki had resorted to practices that were not in line with competition rules by controlling how distributors offered discounts to its cars, and Suzuki Motor was majority owner of Maruti Suzuki.
The broader Topix index shed 0.3% to 1,546.21 points.
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