Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Japan's Nikkei inches higher on Fast Retailing, tech shares boost

12/04/2022 | 10:19pm EST

TOKYO, Dec 5 (Reuters) - Japan's Nikkei index edged higher on Monday, led by Uniqlo brand owner Fast Retailing and heavyweight technology stocks.

The Nikkei share average was up 0.11% at 27,808.74 by the midday break, while the broader Topix lost 0.5% to 1,944.21.

"Today's market showed little direction as U.S. jobs data did not become a market-moving catalyst. But investors have a fresh view on heavyweight technology stocks, which underpinned the Nikkei," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

The S&P 500 and the Nasdaq Composite ended slightly lower, while the Dow Jones Industrial Average edged higher on Friday, as the November payrolls report fuelled expectations the Federal Reserve would maintain its path of interest rate hikes to combat inflation.

In Japan, Fast Retailing rose 3.8% and gave the biggest boost to the Nikkei after the clothing store operator last week said average purchases per customer rose 6.5% in November.

Chip-making equipment maker Tokyo Electron edged up 0.6% and air-conditioning maker Daikin Industries gained 0.45%.

The banking sector lost 1.06%, amid declines in U.S. Treasury yields, with Resona Holdings falling 3.86% to become the biggest loser on the Nikkei.

Robot maker Fanuc rose 2.44% and became the biggest support to the Topix.

Toyota Motor fell 1.07% and was the biggest drag on the Topix. Nissan Motor lost 2.93% and Mitsubishi Motors fell 2.55%.

The auto sector dropped 1.14%. (Reporting by Junko Fujita; editing by Uttaresh.V)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DAIKIN INDUSTRIES, LTD. 1.22% 22870 Delayed Quote.13.22%
DOW JONES INDUSTRIAL -0.38% 33926.01 Real-time Quote.2.35%
FANUC CORPORATION 0.37% 22995 Delayed Quote.15.93%
FAST RETAILING CO., LTD. 0.81% 80610 Delayed Quote.0.10%
IWAICOSMO HOLDINGS, INC. -2.23% 1315 Delayed Quote.1.31%
MITSUBISHI MOTORS CORPORATION -3.76% 486 Delayed Quote.-4.71%
NASDAQ COMPOSITE -1.59% 12006.95 Real-time Quote.14.72%
NIKKEI 225 0.39% 27509.46 Real-time Quote.5.42%
NISSAN MOTOR CO LTD 0.81% 462.6 Delayed Quote.10.64%
RESONA HOLDINGS, INC. 0.74% 705.8 Delayed Quote.-2.41%
TOKYO ELECTRON LTD. 0.04% 47500 Delayed Quote.22.17%
TOPIX INDEX 0.26% 1970.26 Delayed Quote.4.15%
TOYOTA INDUSTRIES CORPORATION -1.40% 7740 Delayed Quote.6.91%
TOYOTA MOTOR CORPORATION 0.58% 1891.5 Delayed Quote.4.36%
Latest news "Economy"
11:46aNew Hampshire Governor Sununu 'definitely thinking' about White House run
RE
11:39aMali says Russia's Lavrov to visit to strengthen defence ties
RE
11:25aCanada deploys military aircraft over Haiti to disrupt gangs
RE
11:15aColombian military confirmed possible balloon flying over its airspace
RE
10:46aItaly's TIM suffers internet connection problems
RE
10:27aThousands protest against animal rights bill in Spain for excluding hunting dogs
RE
10:25aRussian missiles hit Kharkiv: local authorities
RE
10:24aEast African regional leaders demand ceasefire in eastern Congo
RE
10:22aEast African regional leaders demand ceasefire in eastern Congo
RE
10:21aRussia says Ukraine planning to blow up buildings in false flag operation
RE
Latest news "Economy"