Japan s technology stocks are bought as the Nasdaq s gain and the fall in U.S. interest rates lifted investor sentiment, said Jun Morita, general manager of the research department at Chibagin Asset Management. But the market was weighed down by uncertainties. It s hard for investors to decide to sell or buy when the Nikkei hovers around the 29,000-level as they are not necessarily optimistic about the Japanese market outlook. Some market participants doubt Japan s economy will recover as quickly as that of the United States and other advanced nations, as the country grapples with a fourth wave of the pandemic.
Synopsis
The Nikkei share average ended 0.35 per cent lower at 28,860.80, while the broader Topix was down 0.28 per cent at 1,957.14.
AP
The Topix s sea transport subsector was the biggest decliner, sliding 3.33 per cent, following its surge to the highest in more than a decade.
TOKYO: Japanese equities closed lower on Wednesday, on profit-booking in shippers and semiconductor stocks, with investors awaiting US inflation data as it could influence how soon the Federal Reserve pares its stimulus programme. Financial firms and insurers declined after a retreat in long-term US Treasury yields dampened the outlook for returns on their portfolios. Eisai Co, however, surged 16.26 per cent, rising by the daily limit for a second straight session after its Alzheimer s drug received a nod from US regulators on Monday.