TOKYO, Feb. 8 (Xinhua) — Japan’s benchmark Nikkei stock index closed decrease Wednesday as bellwether companies reporting disappointing earnings dented investor sentiment.
The 225-issue Nikkei Stock Average dropped 79.01 factors, or 0.29 p.c, from Tuesday to shut the day at 27,606.46.
The broader Topix index, in the meantime, edged up 0.57 level, or 0.03 p.c, to complete at 1,983.97.
Local brokers stated that regardless of positive aspects on Wall Street in a single day, home companies’ earnings experiences lacking market expectations led to promoting, with SoftBank Group and Nintendo weighing closely.
“The two big companies dragged the Nikkei down as a whole, worsening market sentiment,” Koichi Fujishiro, a senior economist on the Dai-ichi Life Research Institute, was quoted as saying.
Softbank slumped 5.1 p.c after asserting the day gone by a internet lack of 912.5 billion yen (6.9 billion U.S. {dollars}) within the April-December interval.
The determine compares to a internet revenue of 392.6 billion yen (3.0 billion U.S. {dollars}) booked a 12 months earlier, with the losses within the recording interval attributed partially to the yen’s weak spot and a worldwide stock hunch amid world inflation, the group reported.
The expertise and funding big stated that it had incurred 1.4 trillion yen (10.7 billion U.S. {dollars}) of funding losses within the reporting interval.
For the present enterprise 12 months by March, the corporate opted to not present its earnings outlook.
Nintendo, in the meantime, tumbled 7.5 p.c following the console and video games maker reducing its revenue outlook for the present enterprise 12 months by March.
Sharp Corp. was the Nikkei’s largest loser plummeting 12.6 p.c on subpar earnings, whereas Uniqlo clothes chain operator Fast Retailing ended 1.3 p.c decrease.
Semiconductor-oriented points discovered favor, nevertheless, bolstered by the Nasdaq ending increased in a single day, with chip-testing gadget maker Advantest including 2.8 p.c, whereas chip-manufacturing tools maker Tokyo Electron gained 1.2 p.c.
By the shut of play, iron and metal and retailer shares led decliners, whereas notable gainers included prescription drugs, and oil and coal merchandise points.
The turnover on the third buying and selling day of the week got here to 2,787.70 billion yen (21.31 billion U.S. {dollars}).