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MarketScreener Homepage  >  Indexes  >  Nikkei 225    N225   JP9010C00002

NIKKEI 225

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Japan's Nikkei ekes out small gains, Topix down as techs hit

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07/09/2019 | 03:29am EDT
A man stands in front of an electronic board showing the Nikkei stock index outside a brokerage in Tokyo

TOKYO (Reuters) - Japan's Nikkei share average eked out small gains on Tuesday but the broader market fell as Apple suppliers and other technology firms dropped in step with Apple.

The Nikkei share average <.N225> rose 0.14% to 21,565 while the broader Topix fell 0.22% to 1,574.89, with small cap shares hit the most.

Topix small <.TOPXS> which consists of main board shares excluding 500 of the biggest companies fell 0.7%, while Topix 500 <.TOPX500> fell 0.17%, with Topix core 30 <.TOPXC> of top 30 firms falling just 0.05%.

Nikkei's gains stemmed from rises in a few heavyweights in the index, including Fast Retailing and FamilyMart Uny, which rose 1.5% and 4.1% respectively.

Defensive shares, including FamilyMart, were in demand as investors continued to favour sectors seen as least susceptible to global risks.

Retailers <.IRETL.T> rose 0.3%, with drugstore chain operator Welcia Holdings gaining 4.3% and rival Tsuruha Holdings 3.2%. Food companies <.IFOOD.T> rose 0.5% with NH Foods up 1.9%.

Telecom firms also did well, with KDDI rising 2.3% and Softbank Corp 0.4%.

On the other hand, electronic part makers and other semi-conductor-related firms bucked the trend, after Apple Inc led U.S. technology shares lower on Monday following a brokerage downgrade.

Apple suppliers followed in its footsteps, with Murata Manufacturing falling 2.0% and Taiyo Yuden down 4.0% and TDK Corp off 1.5%.

Shin-etsu Chemical fell 2.1% while Keyence shed 1.4%.

The Nikkei has been stuck in a narrow range between 21,500 and 21,800 this month as investors seek more clarity on the U.S. Federal Reserve's policy and as the global economic outlook.

"There are some questions over whether the Fed can really cut rates this month after such a strong reading on payrolls data," said Hiroshi Masushima, market analyst at Monex Securities.

Masushima said the Nikkei was unlikely to move much until next month when investors have a clearer idea on the Fed's policy and Japanese earnings outlook. In fact, expectations of a range-bound market are wide spread.

The Nikkei volatility index <.JNIV>, a measure of investors' volatility expectations based on option pricing, hitting a 1-1/2-year low.

(Additional reporting by Tomo Uetake; Editing by Jacqueline Wong and Michael Perry)

By Hideyuki Sano

Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -5.26% 240.91 Delayed Quote.-17.96%
FAMILYMART CO., LTD. 0.00% 1938 End-of-day quote.0.00%
FAST RETAILING CO., LTD. 1.96% 44190 End-of-day quote.0.43%
KDDI CORPORATION -0.65% 3190 End-of-day quote.1.40%
KEYENCE CORPORATION -1.61% 34830 End-of-day quote.-2.68%
MURATA MANUFACTURING CO., LTD. 0.35% 5472 End-of-day quote.-1.26%
NH FOODS LTD. -5.40% 3765 End-of-day quote.-4.20%
NIKKEI 225 -1.37% 17818.72 Real-time Quote.-18.04%
SHIN-ETSU CHEMICAL CO., LTD. -0.05% 10730 End-of-day quote.-1.87%
SOFTBANK CORP. 1.48% 1374.5 End-of-day quote.0.37%
TAIYO YUDEN CO., LTD. 0.70% 2861 End-of-day quote.-2.52%
TDK CORPORATION -0.48% 8380 End-of-day quote.-1.18%
TSURUHA HOLDINGS INC. -1.79% 14260 End-of-day quote.-1.66%
WELCIA HOLDINGS CO., LTD. -3.33% 7550 End-of-day quote.-2.83%
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