Nikkei index outlook

TOKYO: Japanese factory output and US consumer confidence are among the few trading cues in last trading week of the year, with Tokyo’s Nikkei 225 on track to be one of best-performing major stock indices globally. The Japanese market is open from Monday through Wednesday in what is expected to be quiet trading in a holiday-shortened week. On Friday, Tokyo closed lower, as a strong yen dented exporters, with most Asian markets shut for a public holiday. However, Chinese shares rose on stimulus expectations, though gains were limited by lack of trading enthusiasm as year end approached. The Shanghai Composite Index added 0.43 per cent to 3,627.91. It rose 1.37 per cent over the week. The Shenzhen Composite Index, which tracks stocks on China’s second exchange, gained 0.57 per cent to 2,359.73. It climbed 1.03 per cent during the week. Taiwan added 0.47 per cent. Most other regional financial markets were closed. Tokyo was dragged down by a stronger yen as dollar slipped to 120.11 yen against 120.28 yen on Thursday in New York.