Japan’s Nikkei gains, led by department stores on sales reports

TOKYO: Japan’s Nikkei share average edged higher on Tuesday after a two-session slide, led higher by department store shares after relatively strong monthly sales.

The Nikkei 225 Index rose 0.3% to 42,292.88 at the midday break.

The broader Topix added 0.5%.

Takashimaya and a unit of J.Front Retailing posted preliminary same-store sales figures for August on Monday that showed the first year-on-year rise since February.

Takashimaya shares gained 2.4%, while J.Front advanced almost 2.8%.

Isetan Mitsukoshi, which narrowed its monthly sales decline, added 3.5%.

There were 171 advancers on the Nikkei against 51 decliners.

The largest percentage gainers on the index were Mitsui Mining and Smelting, which added 5.6%, followed by beermaker Kirin Holdings, which rose 5.3%.

The largest losers on the index were online retailer Mercari , which lost 4%, followed by Muji-brand retailer Ryohin Keikaku, which shed 2.4%.