Japanese shares rebound from sharp losses, tech shares lead gains

Kao

25/11/2021 02:25

By Junko Fujita
    TOKYO, Nov 25 (Reuters) - Japanese shares rose on Thursday,
with technology shares leading  gains, as investors scouted for
bargains after sharp declines in the previous session.
    The Nikkei share average  .N225  rose 0.7% to 29,514.38 by
0155 GMT, while the broader Topix  .TOPX  was up 0.37% to
2,026.53. 
    "The declines in the previous session, which had no clear
reasons, was deeper than expected and today's gain is a rebound
from that," said Ikuo Mitsui, fund manager at Aizawa Securities.
    "The fundamentals for domestic growth are relatively strong,
with the pandemic heading towards the end in Japan, and demand
for services set to grow."
    Wall Street shares finished higher ahead of the U.S.
Thanksgiving holiday, with the Nasdaq Composite  .IXIC 
underpinned by tech gains.  .N 
    Their peers in Japan tracked the Nasdaq, with game maker
Sony Group  6758.T  rising 1.35%, wafer maker Shin-Etsu Chemical
 4063.T  gaining 1.63% and chip making equipment maker Tokyo
Electron  8035.T  climbing 0.63%. 
    Oil explorers and refiners  .IMING.T   .IPETE.T  were among
the top performers in the 33 sector sub-indexes on the Tokyo
exchange, rising 1.41% and 1.37%, respectively, as oil prices
remained largely steady.  O/R  
    Airlines  .IAIRL.T  fell 4.16% and was the worst performer
among the sub-indexes. ANA Holdings  9202.T  lost 5.9% after an
announcement of sale of convertible bonds. 
    Mitsui & Co  8031.T  rose 2.68% and was the top percentage
gainer among the top 30 core Topix names, followed by Itochu
 8001.T , which climbed 1.77%. 
    Recruit Holdings  6098.T , losing 0.84%, was the worst
performer among the top 30 Topix names, followed by Kao
 4452.T , which fell 0.37%.

 (Editing by Uttaresh.V)
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Messaging:junko.fujita.reuters.com@reuters.net;))