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 snaps 4-day losing session as Uniqlo, tech gain

09/06/2022 | 02:51am EST

TOKYO, Sept 6 (Reuters) - Japan's Nikkei share average snapped a four-session losing streak on Tuesday, as investors bought back stocks, underpinned by gains in Uniqlo clothing shop owner Fast Retailing and technology stocks.

The Nikkei index edged up 0.02% to 27,626.51 after slipping into the negative territory momentarily. The broader Topix inched down 0.11% to 1,926.58.

The Nikkei was firm despite losses on the European stocks overnight, after the euro dropped below 99 cents for the first time in 20 years and European gas prices surged after Russia said its main gas supply pipeline to Europe would stay shut.

"Japan's economy is supported by various government measures and stable compared with other countries, which gives a comfort to investors," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

Fast Retailing gained 0.46% and provided the biggest support to the Nikkei.

Censor maker TDK advanced 2.06%. Chip giants Tokyo Electron and Advantest edged up 0.31% and 1.31%, respectively.

Overall, Japanese equities are underpinned by expectations of domestic growth driven by various economic measures, including further easing of border controls after tourism demand was hurt by the COVID-19 outbreak, Nomura Securities strategist Maki Sawada said.

"But caution about slowdown of the U.S. economy capped further gains."

Unitika surged 7,47% to become the best performer on the Nikkei, even after the textile maker was announced to be excluded from the benchmark in a regular reshuffle.

Maruha Nichiro cut early losses to end flat after the fishing company was excluded from the Nikkei, while Hoya jumped 2,7% after the eyeglass lenses maker was added to the index.

(Reporting by Junko Fujita; Editing by Rashmi Aich and Krishna Chandra Eluri)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION 0.21% 9550 Delayed Quote.-12.39%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.09% 0.6442 Delayed Quote.1.28%
BRITISH POUND / EURO (GBP/EUR) -0.03% 1.1656 Delayed Quote.-2.14%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.05% 0.704573 Delayed Quote.1.54%
FAST RETAILING CO., LTD. -1.72% 81360 Delayed Quote.24.58%
HOYA CORPORATION -1.72% 14025 Delayed Quote.-18.03%
INDIAN RUPEE / EURO (INR/EUR) 0.09% 0.011666 Delayed Quote.-0.67%
IWAICOSMO HOLDINGS, INC. -1.19% 1250 Delayed Quote.-7.75%
MARUHA NICHIRO CORPORATION -0.98% 2415 Delayed Quote.0.42%
NIKKEI 225 -1.59% 27777.9 Real-time Quote.-3.52%
NOMURA CO., LTD. -1.88% 993 Delayed Quote.4.20%
NOMURA CORPORATION 1.05% 1054 Delayed Quote.20.32%
TDK CORPORATION -2.69% 4875 Delayed Quote.8.57%
TOKYO ELECTRON LTD. -0.34% 46740 Delayed Quote.-29.48%
UNITIKA LTD. -0.39% 258 Delayed Quote.-14.00%
US DOLLAR / EURO (USD/EUR) -0.07% 0.948767 Delayed Quote.8.00%
Latest news "Economy"
05:08pHistoric crown to be modified for King Charles's coronation
RE
03:54pBiden administration mulls ending U.S. military COVID-19 vaccine mandate
RE
02:50pPentagon chief calls on Congress to pass spending bill on time
RE
02:48pSaudi Tourism Fund, Red Sea Markets Co To Build Real Estate Investment Fund In Aseer Region - SPA
RE
02:48pBanque saudi fransi signs financing agreement with red sea marke…
RE
02:43pSaudi fransi capital to manage new real estate investment fund i…
RE
02:37pSaudi tourism development fund, red sea markets co ltd sign agre…
RE
02:33pPutin not sincere about peace talks now, says top U.S. diplomat
RE
01:05pSpanish police say origin of letter bombs was city of Valladolid - paper
RE
12:50pAmbush claimed by Pakistani Taliban kills three police officers in northern Pakistan
RE
Latest news "Economy"