Japan's Nikkei ends lower on chip declines, Topix ticks up on Toyota
16/06/2021 07:56
TOKYO, June 16 (Reuters) - Japan's benchmark Nikkei index
ended lower on Wednesday as chip-related stocks tracked
overnight weakness in U.S. peers, although hopes for a
vaccine-driven domestic economic recovery lifted cyclical
shares.
The Nikkei share average .N225 fell 0.51% to close at
29,291.01, while the broader Topix .TOPX ticked up 0.02% to
1,975.86, supported by Toyota Motor 7203.T as the automaker
hit another record high.
"Many investors are holding their bets as they await the
outcome of the Federal Reserve meeting, but cyclical stocks that
are set to benefit in the post-pandemic era are solid," said
Yutaka Miura, senior technical analyst at Mizuho Securities.
Wall Street's all three major indexes dropped overnight as
markets awaited fresh guidance from the U.S. Federal Reserve.
.N
Following declines in the Philadelphia Semiconductor index,
chipmaking equipment supplier Tokyo Electron 8035.T fell 1.1%
and semiconductor test equipment supplier Advantest 6857.T
ticked down 0.19%.
But shares of energy, material .IMING.T IRUBR.T
IPETE.T and shipping companies ISHIP.T advanced.
Among them, Japan's biggest oil and gas explorer Inpex
1605.T jumped 3.7% as oil prices hit their highest in more
than two years. O/R
Hopes for an economic reopening lifted department store
shares, with Takashimaya 8233.T jumping 2.07% and Isetan
Mitsukoshi Holdings 3099.T edging up 0.24%.
Conglomerate Hitachi 6501.T and air-conditioner maker
Daikin Industries 6367.T also supported the Topix by rising
2.48% and 2.22%, respectively.
Kawasaki Kisen Kaisha 9107.T gained 4.94% and was the top
gainer on the Nikkei, followed by CyberAgent 4751.T , which
added 3.99%.
The largest loser was Unitika 3103.T , falling 3.38%,
followed by GS Yuasa 6674.T , losing 3.2%, and Sony Group
6758.T , down 2.86%.
The volume of shares traded on the Tokyo Stock Exchange's
main board was 1.03 billion, compared with the average of 1.18
billion in the past 30 days.
The Mothers Index .MTHR of start-up firm shares fell for
the first time in eight days, losing 0.13%.
(Reporting by Junko Fujita; Editing by Aditya Soni)
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