TOKYO, Feb. 28 (Xinhua) — Japan’s benchmark Nikkei stock index ended fractionally greater Tuesday amid a scarcity of recent buying and selling cues though considerations over extended price hikes and a potential U.S. recession clouded the market temper.
The 225-issue Nikkei Stock Average edged up 21.60 factors, or 0.08 p.c, from Monday to shut the day at 27,445.56.
The broader Topix index, in the meantime, added 0.50 level, or 0.03 p.c, to complete at 1,993.28.
Dealers right here mentioned that outperforming shares have been offered for income owing to a scarcity of main buying and selling cues, with main indexes on Wall Street solely ending marginally greater in a single day.
They added that hopes for elevated tourism gave associated home points a elevate, however ongoing considerations the U.S. Federal Reserve’s potential extended price hikes may tip the world’s largest economic system right into a recession noticed buyers choose to not make daring strikes.
“Prospects for prolonged interest rate hikes in the United States were capping the market’s topside,” Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co., was quoted as saying.
Technology-oriented points fueled the market’s early rise following their U.S. friends advancing in a single day, with chip-making gear maker Advantest rising 0.5 p.c, whereas know-how startup investor SoftBank Group gained 0.9 p.c.
M3 Inc., a web-based medical companies supplier, for its half, ended the day 2.2 p.c greater.
Among tourism-related points gaining on hopes for elevated demand, division retailer operator J. Front Retailing rose 1 p.c, whereas Tokyo Disney Resort operator Oriental Land jumped 3.5 p.c.
Semiconductor-manufacturing gear maker Tokyo Electron was among the many notable decliners, nevertheless, slipping 0.3 p.c.
By the shut of play, service and actual property shares comprised points that gained essentially the most.
Marine transportation and iron and metal points have been among the many day’s greatest decliners.
The turnover on the second buying and selling day of the week got here to three,381.95 billion yen (24.74 billion U.S. {dollars}).