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Japanese Market Modestly Higher
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By Reuters Staff
2 Min Read
TOKYO, April 16 (Reuters) - Japan’s Topix edged lower on Friday as gains in heavyweight chip stocks were capped by investor concerns about Japanese corporate outlook ahead of the earnings season.
The broader Topix was down 0.19% to 1,955.50 by 0209 GMT, while the Nikkei index were almost flat at 29,636.41.
“Investors are getting cautious about corporate outlook ahead of earnings season starting next week,” said Shingo Ide, chief equity strategist at NLI Research Institute.
“Their expectations were so strong that now they are concerned more firms might follow Yaskawa Electric which didn’t meet market expectations.”
Japanese major manufacturers will kick off their annual corporate earnings season next week, starting with electronic components maker Nidec on Thursday.