TOKYO, June 22 (Xinhua) — Japan’s benchmark Nikkei stock index closed decrease Thursday, snapping a two-day successful streak, as chip-related points had been dragged down by their U.S. friends.
The 225-issue Nikkei Stock Average dropped 310.26 factors, or 0.92 p.c, from Wednesday to shut the day at 33,264.88.
The broader Topix index, in the meantime, edged up 1.49 factors, or 0.06 p.c, to complete at 2,296.50.
Local brokers mentioned that know-how points being bought held the blue chip-heavy Nikkei in unfavorable territory for a lot of the day, with chip shares following their U.S. friends decrease in a single day a selected drag.
Along with technology-related points being bought, market analysts right here mentioned the market’s draw back was supported by progress shares persevering with to search out traction as they’re nonetheless deemed to be undervalued.
“Rather than a broad-based sell-off, the market today seems to be divided by industries, with value stocks being bought and growth stocks such as tech stocks being sold,” Tomoichiro Kubota, senior market analyst at Matsui Securities Co., was quoted as saying.
Among chip stock shedding floor, semiconductor manufacturing gear maker Tokyo Electron fell 4.6 p.c, whereas chip-testing gear maker Advantest tumbled 6.9 p.c.
Following a spike in costs for oil and metals, buying and selling firms duly superior, with Mitsui & Co. gaining 0.9 p.c.
Tourism-related points had been sought out following authorities information launched a day earlier exhibiting the numbers of inbound vacationers persevering with to get well post-COVID-19, with abroad guests to Japan in May at 68.5 p.c in comparison with the identical month in 2019.
Of these, central Japan Railway added 0.6 p.c, whereas division retailer operator Isetan Mitsukoshi Holdings rose 0.8 p.c.
Nintendo gained traction, leaping 1.7 p.c, following the sport and console maker asserting a remake of its widespread “Super Mario RPG” for its Switch console.
Panasonic additionally discovered favor, climbing 2.2 p.c, after studies certainly one of its items could provide batteries to Mazda Motor’s EVs.
By the shut of play, client credit score, financial institution, and wholesale commerce points comprised people who gained probably the most.
Electric home equipment, precision devices, and equipment shares, in the meantime, led notable decliners.
The turnover on the Prime Market on the penultimate buying and selling day of the week got here to 4,094.05 billion yen (28.82 billion U.S. {dollars}).