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Japanese shares end lower on profit-booking, drugmakers limit losses

By Reuters Staff
2 Min Read
TOKYO, May 31 (Reuters) - Japanese shares closed lower on Monday, as investors locked in gains after a recent rally, although the losses were limited by a positive finish from local drugmakers.
The Nikkei share average ended 0.99% lower at 28,860.08, while the broader Topix fell 1.26% to 1,922.98.
The Nikkei had jumped 2.1% on Friday to close at the 29,000-level for the first time since May 10, while Wall Street finished with marginal gains.
“There aren’t any reasons to buy Japanese stocks at the moment except that the vaccine rollouts are proceeding well. That is helping cap the declines in the session,” said Yutaka Miura, senior technical analyst at Mizuho Securities.

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Taiwan chip packager King Yuan to halt output after COVID cases at factory

Major Taiwanese chip packager King Yuan Electronics said on Friday it will halt production on the island for two days after several employees contracted COVID-19, the first time the pandemic has hit the global chip hub, as case numbers climb.

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S.Korean stocks snap five-day rally, but mark best week in seven

Round-up of South Korean financial markets:

Seoul , Soult-ukpyolsi , South-korea , South-korean , Joori-roh , Subhranshu-sahu , Thomson-reuters-trust-principles , Samsung-electronics , Federal-reserve , Reuters , Wall-street , Thomson-reuters-trust

UPDATE 1-Taiwan chip packager King Yuan to halt output after COVID cases at factory

Major Taiwanese chip packager King Yuan Electronics said on Friday it will halt production on the island for two days after several employees contracted COVID-19, the first time the pandemic has hit the global chip hub, as case numbers climb.

Miaoli , Miaoli-xian , Taiwan , Taipei , T-ai-pei , Philippines , Taiwanese , Yimou-lee , Roger-tung , Kim-coghill , Ben-blanchard , Hugh-lawson

UPDATE 1-Taiwan upgrades 2021 economic view as Q1 growth jumps

* Q1 growth revised up to +8.92% y/y, from +8.16%
* Government sees 2021 exports +20.4% y/y, from +9.58%
TAIPEI, June 4 (Reuters) - Taiwan’s economy will grow at its fastest pace in more than a decade in 2021, the statistics office said on Friday, upgrading its outlook as a strong rebound in exports helps the island even as it deals with a spike in COVID-19 cases.
Gross domestic product (GDP) is expected to expand 5.46% this year, the Directorate General of Budget, Accounting and Statistics said, up from a forecast made in February for 4.64% growth, which would be its fastest since 2010’s 10.25%.
The revision came as the statistics office more than doubled its export growth forecast for this year, with global demand for the island’s technology products buoyed by a work-from-home boom during the COVID-19 pandemic.

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For Dutch firm, buyers' fee in Europe gets e-waste recycled in Africa

After years of struggling to make a living selling recyclable parts from electronic waste recovered in Africa, Dutchman Joost de Kluijver realised he needed a new business model if his firm was going to survive.

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Factbox-U.S. Treasury updates list of Chinese entities hit by investment ban

The U.S. Treasury Department is updating a government list of Chinese companies and entities with alleged ties to defense or surveillance technology sectors, making them subject to a U.S. investment ban.

China , Fujian , Guizhou , Hubei , Nanjing , Jiangsu , Washington , United-states , Shenyang , Liaoning , Inner-mongolia , Nei-mongol

Hong Kong set to introduce real-name SIM card system from Sept. 1

Hong Kong plans to introduce a real-name registration system for mobile phone pre-paid SIM cards in September in a bid to fight crime in the financial hub, the government said on Tuesday, a move that is likely to stoke privacy and surveillance concerns.

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S. Korea stocks end higher ahead of exports, U.S. jobs data; post seventh monthly gain

Round-up of South Korean financial markets:

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Hong Kong stocks slip on profit-taking

* HK->Shanghai Connect daily quota used 17.1%, Shanghai->HK daily quota used -1.3%

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