* MUFG tumbles after report U.S. investigates bank
* For the week, Nikkei has fallen 0.8 pct
* Black Friday, G20 focused
By Ayai Tomisawa
TOKYO, Nov 22 (Reuters) - Japan's Nikkei share index was little changed on Thursday as investors stayed on the sidelines before a three-day weekend, but companies linked to inbound tourism demand rose after data showed a rebound in visitors in October.
The Nikkei .N225 was flat at 21,508.41 points by midmorning, after opening a tad higher.
Companies such as cosmetics makers which benefit from tourist spending attracted buyers after the Japan National Tourism Organization reported that October numbers rose 1.8 percent on-year to 2.646 million after dropping in the previous two months.
For the week, the Nikkei has shed 0.8 percent so far.
Japanese markets will be closed on Friday due to a national holiday, with investors carefully awaiting the outcome of Black Friday sales that follow Thursday's U.S. Thanksgiving Day holiday, at a time when wages are rising and consumer confidence is high in the United States.
"Investors will be talking about that on Monday as it will be a good indication for U.S. consumer spending which will likely contribute to setting the direction of the stock market early next week," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley (NYSE: MS ) Securities.
He said markets also remain tense before a meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the G20 leaders' summit in Buenos Aires, Argentina which starts on Nov. 30.
Defensive stocks such as railway stocks, real estate firms and food processors outperformed. Central Japan Railway 9022.T added 1.2 percent, Mitsubishi Estate Co 8802.T gained 1.5 percent and Ajinomoto Co 2802.T rose 1.0 percent.
Elsewhere, Mitsubishi UFJ Financial Group 8306.T tumbled nearly 3 percent to a level not seen since early July after the New York Times reported that U.S. prosecutors are investigating the systems that the bank uses to track money laundering. broader Topix .TOPX was flat at 1,615.56.
(Editing by Kim Coghill)
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.