Japan's Nikkei edges lower before key U.S. economic data

Murata Manufacturing Co

01/06/2021 07:50

TOKYO, June 1 (Reuters) - Japan's benchmark index ended
slightly lower on Tuesday as investors awaited two key U.S.
economic reports, though declines were capped by hopes of a
domestic economic normalisation on delayed-but-steady rollouts
of COVID-19 vaccines.
    The Nikkei share average  .N225  inched down 0.16% to close
at 28,814.34, while the broader Topix  .TOPX  inched up 0.17% to
1,926.18. 
    "Investors want to confirm the strength of U.S. recovery
from the factory and jobs data to be announced later," said
Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS
Asset Management. 
    U.S. factory activity numbers will be released on Tuesday,
while payrolls data, due on Friday, will be the main event of
the week. Median jobs forecasts are pegged at 650,000, but the
outcome is uncertain following April's unexpectedly weak 266,000
gain. 
    Among shares and sectors in Japan, steel and drug makers
 .ISTEL.T   .PHARM.T  led the Nikkei's declines, with JFE
Holdings  5411.T  falling 4.32% and Nippon Steel  5401.T  losing
3.36%.  
    Daiichi Sankyo  4568.T  fell 2.57% and Chugai Pharmaceutical
  4519.T  lost 1.95%. 
    IHI  7013.T  jumped 5.82% after Nomura Securities changed
its rating for the heavy-industry manufacturer, while its peer
Mitsubishi Heavy Industries  7011.T  gained 3.35% after the
brokerage raised its target price. 
    Renesas Electronics  6723.T  gained 3.32% even as the
chipmaker said restoring full production capacity at a
fire-damaged chip plant would take longer than
expected. urn:newsml:reuters.com:*:nT9N2MY020
    The stock that gained the most among the top 30 core Topix
names was Toyota Motor  7203.T , up 3.38 %, followed by Murata
Manufacturing  6981.T , which rose 2.05%. 
    Daiichi Sankyo was the worst performer among the top 30 core
Topix names, followed by Nippon Telegraph and Telephone  9432.T 
which lost 1.93%.
    

 (Reporting by Junko Fujita; editing by Uttaresh.V and Devika
Syamnath)
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