Synopsis
The Nikkei share average was down 0.28 per cent at 29,668.74, as of 0202 GMT, while the broader Topix slipped 0.23 per cent to 1,953.80.
AP
Mega banks slipped, with Mitsubishi UFJ Financial Group losing 0.46 per cent and Sumitomo Mitsui Financial Group dipping 0.82.
TOKYO: Japanese shares ended lower on Wednesday, weighed down by cyclicals, as a resurgence in COVID-19 cases cast doubts over prospects of economic rebound, while falling interest rates dragged banking and insurer stocks. The Nikkei share average was down 0.28 per cent at 29,668.74, as of 0202 GMT, while the broader Topix slipped 0.23 per cent to 1,953.80. The expectations for the reopening of the economy shrank because rollouts of vaccines in Japan is much slower than other countries, while the number of new COVID-19 cases is on the rise, said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
Tokyo stocks rebounded on Tuesday, reflecting buybacks and buying on dips. The 225-issue Nikkei average rose 212.88 points, or 0.72%, to close at 29,751.61
Tokyo stocks ended lower on Monday, reflecting mounting profit-taking and falls in overseas markets, despite starting off the day's trading on a positive n
Synopsis
Nikkei average fell 0.77 per cent to close at 29,538.73. It has been in a holding pattern after hitting a 30-and-a-half-year high in mid-February, with a break of either its March 18 high of 30,485 or March 24 low of 28,379, seen as needed for a new trend to emerge.
AP
The broader Topix ended 0.25 per cent lower at 1,954.59.
TOKYO: Japanese shares ended lower on Monday, dragged down by sharp losses in Yaskawa Electric after the industry bellwether s earnings outlook failed to meet the market s expectations, prompting a sell-off in other tech stocks.
Nikkei average fell 0.77 per cent to close at 29,538.73. It has been in a holding pattern after hitting a 30-and-a-half-year high in mid-February, with a break of either its March 18 high of 30,485 or March 24 low of 28,379, seen as needed for a new trend to emerge.
Tokyo stocks sank after their three-session bull-run on Tuesday, suffering from overseas market falls and profit-taking.
The 225-issue Nikkei average lost 392.62 points, 1.30%, to close at 29,696.63. On Monday, the benchmark index surged 235.25 points to retake the 30,000 mark for the first time in over two weeks.
The Topix index of all first section issues finished 29.20 points, or 1.47%, lower at 1,954.34, after gaining 11.92 points the previous day.
Stocks jumped right after the opening bell, with sentiment brightened by the U.S. Dow Jones Industrial Average’s record-breaking advance Monday stemming in part from the Institute for Supply Management’s March U.S. nonmanufacturing purchasing managers’ index rewriting an all-time high.