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Japan shares end mixed as growth stocks drag ahead of U.S. jobs data

06/04/2021 | 02:39am EDT

TOKYO, June 4 (Reuters) - Japanese shares ended on a mixed note on Friday, weighed down by growth shares, as investors awaited a key U.S. payroll report that could intensify worries over inflation and taper talks from the Federal Reserve.

The Nikkei average ended 0.40% lower at 28,941.52 after two days of gains, while the broader Topix managed to close 0.03% higher at 1,959.19, its fourth straight day of gains.

Growth shares fell by 0.34%, while value shares added 0.37%, as investors sold tech shares and stay-at-home winners ahead of monthly U.S. non-farm payrolls data due later on Friday. A strong reading could raise bets over possible tapering of stimulus measures by the Fed and sap risk appetite.

SoftBank Group, whose Vision Fund owns global tech firm shares, lost 1.3%.

Industrial robot makers posted sizable losses, with Fanuc losing 2.2% and Yaskawa Electric dropping 0.8%.

Some of last year's star performers crumbled. Medical support service operator M3 shed 5.0% while bicycle maker Shimano shed 2.5%.

Still, the market received some support from Japan's accelerated vaccination programme ahead of the Tokyo Olympics.

"Japan's slow vaccination had been a reason to sell stocks. But now, about one in 10 people have got at least one shot, which is much better than just 1% about a month ago," said Takashi Hiroki, chief strategist at Monex Securities.

Many railway firms gained, with West Japan Railway adding 1.0% and Central Japan Railway advancing 0.9%.

Investors also scooped up shares of large companies, including Toyota Motor, which gained 1.6% to a record high, having risen in 10 of the last 11 sessions.

Hitachi added 2.1% to hit a 20-year high, while Mitsubishi Chemical rose 2.2% to a two-year high.

Semiconductor firm Lasertec became the most actively traded stock on the main board, rising 0.9% and extending its winning streak to 10 days. (Reporting by Hideyuki Sano; editing by Uttaresh.V and Ramakrishnan M.)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.16% 0.73962 Delayed Quote.-3.87%
BRITISH POUND / US DOLLAR (GBP/USD) 0.17% 1.3913 Delayed Quote.1.78%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.15% 0.7982 Delayed Quote.1.60%
CENTRAL JAPAN RAILWAY COMPANY 0.58% 15630 End-of-day quote.7.13%
DENSO CORPORATION -0.06% 7752 End-of-day quote.26.38%
EURO / US DOLLAR (EUR/USD) 0.05% 1.1843 Delayed Quote.-2.82%
FANUC CORPORATION 0.58% 25050 End-of-day quote.-1.22%
HITACHI, LTD. -0.44% 6083 End-of-day quote.49.64%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.13% 0.013466 Delayed Quote.-1.64%
LASERTEC CORPORATION 0.90% 21370 End-of-day quote.76.47%
M3, INC. -1.39% 7031 End-of-day quote.-27.84%
MITSUBISHI CHEMICAL HOLDINGS CORPORATION -0.37% 935.7 End-of-day quote.49.90%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.19% 0.70556 Delayed Quote.-1.89%
NIKKEI 225 0.52% 27728.12 Real-time Quote.0.72%
SHIMANO INC. -1.79% 28810 End-of-day quote.19.62%
SOFTBANK GROUP CORP. -1.07% 6837 End-of-day quote.-15.15%
TOYOTA INDUSTRIES CORPORATION -1.04% 9530 End-of-day quote.16.36%
TOYOTA MOTOR CORPORATION -0.85% 9970 End-of-day quote.25.30%
WEST JAPAN RAILWAY COMPANY 1.27% 5660 End-of-day quote.4.83%
YASKAWA ELECTRIC CORPORATION -0.18% 5510 End-of-day quote.7.41%
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