Japanese shares track Wall St rise, China lockdown concerns cap gains
26/04/2022 03:17
TOKYO, April 26 (Reuters) - Japanese shares rose on Tuesday,
tracking Wall Street gains overnight, but concerns over the
impact of China's COVID-19 lockdown on domestic companies capped
their rise.
By 0147 GMT, the Nikkei share average .N225 had risen 0.4%
to 26,692.10. The broader Topix .TOPX had gained 0.1% to
1,878.38, after briefly entering negative territory.
Shanghai's COVID-19 lockdown misery dragged into a fourth
week, while orders for mass testing in Beijing's biggest
district sparked fears that the Chinese capital could be
destined for a similar fate. urn:newsml:reuters.com:*:nL3N2WN0MB
"Investors were cautious about the impact of possible
China's economic slowdown on Japanese companies, as now there is
a possibility that Beijing could be locked down," said
Tomoichiro Kubota, senior market analyst at Matsui Securities.
"Today's market rose thanks to the gains on Wall Street and
falling U.S. Treasury yields."
Technology investor SoftBank Group 9984.T provided the
biggest boost to the Nikkei, rising 3.93%, followed by
chip-making equipment maker Tokyo Electron 8035.T , rising
0.85%.
Fujitsu 6702.T rose 2.38% after a report said the computer
maker was weighing a sale of it scanning business to office
equipment maker Ricoh 7752.T , which fell 1.18%. urn:newsml:reuters.com:*:nT9N2VW000
Canon Marketing Japan 8060.T jumped 7.71% after the sales
arm of camera maker Canon 7751.T raised its profit outlook.
urn:newsml:reuters.com:*:nXB1I5IIDU
Sumitomo Metal Mining 5713.T tumbled 8.35%, and was the
biggest loser on the Nikkei, after the miner and smelter said it
would discontinue a long-running feasibility study on a nickel
processing plant project in Pomalaa, Indonesia. urn:newsml:reuters.com:*:nL2N2WN0S7
Share trade volume on the Tokyo Stock Exchange's main board
was 0.42 billion, compared to past 30-day average of 1.22
billion.
(Reporting by Junko Fujita;
Editing by Vinay Dwivedi)
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Messaging:junko.fujita.reuters.com@reuters.net;))