Headline indices of the Japan share market were higher on Tuesday, 27 November 2018, as investors took heart from positive cues from Wall Street overnight and a slightly cheaper yen. However, market gains were limited on caution before crucial meeting between US and Chinese leaders at the end of the week. Total 26 of TSE33 issues inclined while remaining 7 issues declined, with shares in Insurance, Marine Transportation, Mining, Banks, and Information & Communication issues being notable gainers whereas Electric Power & Gas, Pharmaceutical, and Textiles & Apparels issues were notable losers. In late afternoon trades, the 225-issue Nikkei index rose 99.50 points, or 0.46%, at 21,911.50. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 9.29 points, or 0.57%, to 1,641.49.

Global developments influenced trading in local market today. Signs that Italy's coalition government was prepared to cut its budget deficit target — a move that could defuse tensions between Rome and the European Union — helped too soothe jitters. U.K. Prime Minister Theresa May also walked away from an EU meeting with approval for her Brexit deal and now seeks the approval of her own parliament.

Elsewhere, investors are looking ahead to a G-20 summit set to take place in Argentina later this week. U.S.-China trade tensions continued to loom over the market ahead of the Group of 20 summit beginning Friday when President Donald Trump and Chinese President Xi Jinping are expected to meet and discuss trade issues. The summit will be watched closely for how relations between both countries develop, in addition to further news surrounding trade.

Shares of export-related issues gained, on the back of yen's retreat near a two-week low against the U.S. dollar, with Panasonic gaining 2.6% and Sony up 1.5%. Nissan was up 0.4%, Toyota Motor Corp climbed 1.3%, Honda Motor Co advanced 1.2% and Mazda Motor Corp gained 1.7%. Mitsubishi Motors was up 2% after it sacked Carlos Ghosn as chairman, tracking Nissan's decision to dismiss him after his dramatic arrest last week.

Shipping companies gained after the Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rallied on higher demand for capesize vessel segments. Mitsui OSK Lines rose 2.6%, Kawasaki Kisen Kaisha advanced 3% and Nippon Yusen gained 2.4%.

Shares of Line Corp rose 7.5% after reports that chat application operator will tie up with Tencent Holdings Ltd to offer mobile payment services.

Energy stocks posted gains as global oil prices stabilized. Last Friday, Crude oil prices plummeted approximately 6% to their lowest levels this year on continued concerns about a global oversupply. Also, the price decline gave a boost to airline stocks on prospects of lower fuel costs.

ECONOMIC NEWS: Japan Producer Prices Rise 1.3% On Year In October— Japan producer prices were up 1.3% on year in October, the Bank of Japan said on Tuesday, up from the downwardly revised 1.1% gain in September (originally 1.2%). On a monthly basis, producer prices climbed 0.4% following the flat reading in the previous month.

CURRENCY NEWS: Japanese yen depreciated in the mid-113 yen zone against greenback on Tuesday. The dollar was quoted at 113.50-51 yen compared with 113.55-65 yen in New York and 113.23-24 yen on Monday in Tokyo. The euro, meanwhile, fetched 128.64-68 yen against 128.62-72 yen in New York and and 128.65-69 yen in Monday trade in Tokyo.

OFFSHORE MARKET NEWS: Wall Street stocks closed higher on Monday, rebounding from four consecutive days of losses, as retail shares rallied on expectations of strong sales as shoppers went hunting for deals on Cyber Monday. Stable oil prices and global equities gains also soothed sentiment after a bruising week of losses. The Dow Jones Industrial Average climbed 354.29 points, or 1.5%, to 24,640.24. The broad-based S&P 500 rose 40.89 points, or 1.6%, to 2,673.45, while the tech-rich Nasdaq Composite Index rallied 142.87 points, or 2.1%, to 7,081.85. Last week, the Nasdaq tumbled 4.3%, the Dow fell 4.4% and the S&P 500 slid 3.8%, marking the worst Thanksgiving week since 2011 for all three indexes.

The major European markets also rallied on Monday, as investors digested fresh developments surrounding the U.K.'s withdrawal process from the EU. Over the weekend, leaders from the European Union chose to endorse the Brexit withdrawal deal laid out by U.K. Prime Minister Theresa May. The German DAX Index spiked by 1.5%, the U.K.'s FTSE 100 Index surged up by 1.2%, and the French CAC 40 Index jumped by 1%.