Japanese stocks saw impressive gains as bargain buying stayed in place following the deep losses endured by the market in last month. Asian markets were mostly supported as investors eyed trade talks between the US and China. The benchmark Nikkei 225 index had plummeted near 20 month low in the last week of December though the buying momentum has been supportive for the index in the New Year. The index closed at 20204, up 0.82% on the day. The index came off in the last hour of trade following a rather tepid consumer confidence data.
Japan's consumer confidence weakened for a third consecutive month in December, preliminary data from the Cabinet Office showed on Tuesday. The consumer confidence index for households with two or more persons fell to a seasonally adjusted 42.7 from 42.9 in November. Among the four sub-indexes of the consumer confidence index, the index reflecting households' inclination to buy durable consumer goods rose in December, while those measuring expectations on employment, life style and savings declined, the report showed.