Japan's Nikkei rises on consumer boost; transport stocks cap gains
23/06/2021 04:06
TOKYO, June 23 (Reuters) - Japan's benchmark Nikkei index
inched higher on Wednesday as a rally in consumer-related growth
stocks outweighed losses in transport sectors.
The Nikkei 225 .N225 rose 0.07% to 28,902.77 by 0212 GMT,
while the broader Topix .TOPX edged down 0.33% to 1,953.03.
The Nikkei saw its biggest rise in 2021 on Tuesday.
"Growth shares led Wall Street's gains overnight and Japan's
market is tracking that move today (Wednesday), but gains are
limited after yesterday's (Tuesday) sharp rise," said Yutaka
Miura, senior technical analyst at Mizuho Securities.
Wall Street rebounded overnight, led by the Nasdaq .IXIC ,
as Federal Reserve Chairman Jerome Powell vowed not to raise
rates too quickly. .N
Among individual shares and sectors, Nitori Holdings
9843.T rose after local media reported that the home
improvement goods and furniture store operator would post a
record operating profit for the quarter ended May, driven by
robust demand for its products amid the pandemic.
Fast Retailing 9983.T , known for its Uniqlo brand clothing
stores and cosmetic maker Shiseido 4911.T gained.
Shipping sector .ISHIP.T dropped after leading the
Nikkei's gain in the previous session.
Kawasaki Kisen 9107.T , which raised its annual recurring
profit forecast more than fourfolds on Tuesday, fell.
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(Reporting by Junko Fujita; editing by Uttaresh.V)
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