Japanese shares track Wall Street higher, tech shares lead rally
08/06/2022 04:14
TOKYO, June 8 (Reuters) - Japanese shares on Wednesday
tracked overnight gains on Wall Street, with technology
heavyweights leading the climb and energy shares rising on
firmer oil prices.
The Nikkei share average .N225 was up 1% at 28,215.09 by
0215 GMT, while the broader Topix .TOPX jumped 1.08% to
1,968.17.
"The Nikkei crossed a 200-day moving average — which foreign
investors pay attention to — in the previous session and that
prompted investors to make further bets today," said Shuji
Hosoi, senior strategist at Daiwa Securities.
U.S. stocks ended higher overnight along with Apple
AAPL.O and other technology shares, while Target Corp's
TGT.N disappointing margin forecast weighed on retail stocks
for much of the day. .N
In Japan, Air-conditioning maker Daikin Industries 6367.T
rose 2.78% and was the top gainer on the Nikkei. Technology
investor SoftBank Group 9984.T gained 2.69%, medical services
platform M3 2413.T jumped 6.27% and robot maker Fanuc 6954.T
climbed 2.26%.
Oil explorers .IMING.T added 4.31% to be the top gaining
sector among the Tokyo Stock Exchange's 33 industry sub-indexes.
O/R
Real estate shares .IRLTY.T rose 2.8%, with Tokyu Fudosan
Holdings 3289.T jumping 4.31%.
Insurers .IINSU.T and banks .IBNKS.T fell 0.47% and
0.84%, respectively, after U.S. Treasury yields fell. US/
Dai-ichi Life Holdings 8750.T lost 2.13% and was one of the
top losers on the Nikkei.
Mitsubishi UFJ Financial Group 8306.T and Mizuho Financial
Group Inc 8411.T were the worst performers among the top core
30 Topix names, falling 1.57% and 1.39%, respectively.
Fast Retailing 9983.T gave up early gains to edge down
0.44% after the Uniqlo owner said it would raise prices on some
goods this fall. urn:newsml:reuters.com:*:nL4N2XU1ML
(Reporting by Junko Fujita; editing by Uttaresh.V)
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