August 28, 2019 / 3:22 AM / 6 months ago

Japanese stocks eke out gains, defensives sought

TOKYO, Aug 28 (Reuters) - Japanese shares posted modest gains on Wednesday, led by buying in defensives such as telecommunications and consumer-linked firms, though concerns about Sino-U.S. relations kept a lid on gains.

The Nikkei share average rose 0.15% to 20,487.22, drawing some support from higher Wall Street futures but still not far from seven-month lows of 20,111.76 touched earlier this month.

The broader Topix gained 0.11% to 1,491.31.

Financial markets have become weary of protracted trade talks between the United States and China and growing increasingly sceptical both sides will arrive at an amicable trade deal in the near term.

Telecommunication firm NTT jumped 2.6% while mobile carriers KDDI and NTT Docomo gained 2.2% and 1.9%, respectively. Cosmetics maker Shiseido rose 1.8%.

Topix Value rose 0.27% while growth shares dipped 0.07%. Small cap shares were hit worst, with Topix Small falling 0.42%.

Precision machinery sectors fared the worst, falling 0.83%. Among them, Terumo fell 1.75%.

On the main board, decliners outnumbered gainers by about three to two. (Editing by Jacqueline Wong)

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