Japanese Market Higher In Choppy Trades
TOKYO (dpa-AFX) - The Japanese stock market is slightly higher in choppy trading on Friday, extending gain of the previous session, with the benchmark Nikkei 225 above the 29,700 level, following broadly positive cues overnight from Wall Street amid strong data releases and a dip in long term bond yields.
However, the continuing concerns about the spike in daily domestic coronavirus infections and possible restrictions on economic activity are weighing on the market.
According to media reports, Japan reported a nationwide tally of 4,576 new cases on Thursday as the highly contagious variants drive a fourth wave of infections. The Japanese government is set to add three more prefectures neighboring Tokyo to the list of areas in need of stricter measures.
Asian Markets Mixed Amid Cautious Trades
CANBERA (dpa-AFX) - Asian stock markets are mixed on Friday, despite the broadly positive cues overnight from Wall Street amid strong data releases, stellar earnings from U.S. banks and a dip in long term bond yields. The markets remain cautious amid the continuing surge in coronavirus cases in the region and the possible restrictions on economic activity in several markets. Asian markets also ended mixed on Thursday.
The markets in the region are also tense about a fresh U.S.-China tussle after a Chinese diplomat indirectly warned the U.S. over strong linkages and interference over Hong Kong issues.
By Reuters Staff
2 Min Read
TOKYO, April 16 (Reuters) - Japanese shares closed slightly higher on Friday as heavyweight chip shares rallied, although concerns around corporate outlook capped the gains.
The Nikkei index ended up 0.14% at 29,683.37, while the broader Topix inched up 0.09% to close at 1,960.87.
Chip-related shares gained after Taiwan Semiconductor Manufacturing Ltd (TSMC), reported a 19.4% rise in first-quarter profit on strong chip demand.
Advantest rose 0.38%, Tokyo Electron gained 0.37% and Renesas Electronic jumped 2.48%.
But, NLI Research Institute’s chief equity strategist Shingo Ide points out that investors are getting cautious about corporate outlook ahead of earnings season starting next week as their expectations were so high.
Synopsis
The Nikkei index ended up 0.14 per cent at 29,683.37, while the broader Topix inched up 0.09 per cent to close at 1,960.87.
AP
Chip-related shares gained after Taiwan Semiconductor Manufacturing Ltd (TSMC), reported a 19.4 per cent rise in first-quarter profit on strong chip demand.
TOKYO: Japanese shares closed slightly higher on Friday as heavyweight chip shares rallied, although concerns around corporate outlook capped the gains. The Nikkei index ended up 0.14 per cent at 29,683.37, while the broader Topix inched up 0.09 per cent to close at 1,960.87. Chip-related shares gained after Taiwan Semiconductor Manufacturing Ltd (TSMC), reported a 19.4 per cent rise in first-quarter profit on strong chip demand.
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