Nikkei closes nearly unchanged as tech shares cap gains
15/04/2021 07:38
TOKYO, April 15 (Reuters) - Japanese shares closed slightly
higher on Thursday, led by cyclical firms that would benefit
from a global economic rebound and banks which tracked their
U.S. peers, while a fall in technology stocks capped gains.
Nikkei share average .N225 edged up 0.07% to close at
29,642.69, after briefly retreating following a senior
politician's comments on the possible cancellation of the Tokyo
Olympics. urn:newsml:reuters.com:*:nL1N2M805X
The broader Topix .TOPX rose 0.54% to 1,962.78.
"There are concerns about the economic slowdown in Japan due
to a resurgence of the virus, but investors are looking at the
economic sensitive stocks that would benefit from foreign
demand," said Norihiro Fujito, chief investment strategist,
Mitsubishi UFJ Morgan Stanley Securities.
"Particularly, foreign trades are expected to be active and
that is boosting shipping firms."
The Topix subindex for shippers .ISHIP.T gained most among
the 33 sector sub-indexes on the Tokyo exchange, with Nippon
Yusen 9101.T jumping 4.37%, Mitsui OSK Lines 9104.T rising
2.77% and Kawasaki Kisen 9107.T gaining 3.43%.
The sub-indexes for mining .IMING.T and oil refiners
.IPETE.T also advanced.
Chip-related firms Tokyo Electron 8035.T and Advantest
6857.T fell 1.94% and 2.6%, respectively, after an analyst at
Mitsubishi UFJ Morgan Stanley cut their investment ratings.
Financial shares rose after Goldman Sachs Group Inc GS.N
and Wells Fargo & Co WFC.N advanced on bumper first-quarter
profits. urn:newsml:reuters.com:*:nL4N2M730D urn:newsml:reuters.com:*:nL4N2M7302
Mitsubishi UFJ Financial Group 8306.T rose 1.28%, Sumitomo
Mitsui Financial Group 8316.T gained 1.58% and Nomura Holdings
8604.T advanced 2.01%.
Seven & i Holdings 3382.T , up 5.41%, was the largest
percentage gainer on the Nikkei, followed by Nippon Yusen and
Sumitomo Metal Mining 5713.T , which rose 3.98%.
The largest loser on the Nikkei was Casio Computer 6952.T ,
down 3.12%, followed by Screen Holdings 7735.T , which fell
3.01%, and Advantest.
There were 159 advancers on the Nikkei against 60 decliners.
(Reporing by Junko Fujita; Editing by Shailesh Kuber and
Krishna Chandra Eluri)
((813-4563-2711, junko.fujita@thomsonreuters.com, Reuters
Messaging:junko.fujita.reuters.com@reuters.net;))