Page 24 - ஸூமிடோமொ மிட்ஸ்யூயீ நிதி குழு News Today : Breaking News, Live Updates & Top Stories | Vimarsana
nikkei.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nikkei.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
2 Min Read
TOKYO, April 15 (Reuters) - Japanese shares closed slightly higher on Thursday, led by cyclical firms that would benefit from a global economic rebound and banks which tracked their U.S. peers, while a fall in technology stocks capped gains.
Nikkei share average edged up 0.07% to close at 29,642.69, after briefly retreating following a senior politician’s comments on the possible cancellation of the Tokyo Olympics.
The broader Topix rose 0.54% to 1,962.78.
“There are concerns about the economic slowdown in Japan due to a resurgence of the virus, but investors are looking at the economic sensitive stocks that would benefit from foreign demand,” said Norihiro Fujito, chief investment strategist, Mitsubishi UFJ Morgan Stanley Securities.
Synopsis
The Nikkei share average was down 0.28 per cent at 29,668.74, as of 0202 GMT, while the broader Topix slipped 0.23 per cent to 1,953.80.
AP
Mega banks slipped, with Mitsubishi UFJ Financial Group losing 0.46 per cent and Sumitomo Mitsui Financial Group dipping 0.82.
TOKYO: Japanese shares ended lower on Wednesday, weighed down by cyclicals, as a resurgence in COVID-19 cases cast doubts over prospects of economic rebound, while falling interest rates dragged banking and insurer stocks. The Nikkei share average was down 0.28 per cent at 29,668.74, as of 0202 GMT, while the broader Topix slipped 0.23 per cent to 1,953.80. The expectations for the reopening of the economy shrank because rollouts of vaccines in Japan is much slower than other countries, while the number of new COVID-19 cases is on the rise, said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
“Particularly foreign trades are expected to be active and that is boosting shipping firms.”
The Topix subindex for shippers gained most among the 33 sector sub-indexes on the Tokyo exchange, with Nippon Yusen jumping 5.7%, Mitsui OSK Lines rising 3.17% and Kawasaki Kisen climbing 4.4%.
The sub-index for mining and oil refiners also advanced.
Financial shares rose after Goldman Sachs Group Inc and Wells Fargo & Co advanced on bumper first-quarter profits.
Mitsubishi UFJ Financial Group rose 2.11%, Sumitomo Mitsui Financial Group gained 2.16% and Nomura Holdings advanced 2.05%.
Toshiba Corp rose 1.65%, following reports that the conglomerate is seeing more bidders to take it private.
Seven & i Holdings Co, up 4.89 %, gained the most among the top 30 core Topix names, followed by Sumitomo Mitsui Financial Group.
Nikkei gains on global economic recovery hopes - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.