TOKYO, May 2 (Xinhua) — Tokyo shares ended combined on Tuesday with a weaker yen giving exporters a carry, whereas considerations reemerging concerning the well being of the U.S. monetary system weighed on sentiment following U.S. regulators seizing one other embattled lender.
The 225-issue Nikkei Stock Average added 34.77 factors, or 0.12 %, from Monday to shut the day at 29,157.95.
The broader Topix index, in the meantime, misplaced 2.53 factors, or 0.12 %, to complete at 2,075.53.
Dealers right here mentioned that regulators seizing San Francisco-based First Republic Bank on Monday because of the financial institution’s large outflows in deposits amid doable contagion, reignited considerations over the U.S. well being system, following the high-profile failures of two U.S. banks just lately.
“Not just in the United States, but Japan and the rest of the global stock market have been weighed down by a sense of financial instability,” Nomura Securities strategist Maki Sawada was quoted as saying.
They added that amongst broad monetary considerations, traders had been in a jittery temper as markets right here will probably be closed for the subsequent three days for the Golden Week holidays.
During this time, European and U.S. central banks are as a consequence of set their insurance policies with the Fed persevering with with its price hike coverage to tame inflation seeming probably on the heels of a slew of downbeat U.S. financial information, funding analysts right here mentioned.
“Investors are reluctant to buy ahead of key events during the holidays,” Yutaka Miura, senior technical analyst at Mizuho Securities Co., was quoted as saying.
The yen’s retreat in opposition to the U.S. dollar and the euro noticed exporters and excessive know-how points discover traction, with Panasonic Corp. advancing 2.4 % and chip-testing gear maker Advantest Corp. climbing 3.5 %.
Semiconductor manufacturing gear, Tokyo Electron, in the meantime, ended the day 1.5 % greater.
Mitsui and Sojitz misplaced 1.3 and 4.1 %, respectively, as each buying and selling homes introduced earnings outlooks for the 12 months by way of March that missed expectations.
By the shut of play, precision instrument and pharmaceutical shares led gainers, whereas actual property and securities home points comprised people who declined probably the most.
The turnover on the second buying and selling day of the week got here to 2,667.56 billion yen (19.41 billion U.S. {dollars}).