Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Nikkei ends higher on tech boost; corporate outlook in focus

10/19/2021 | 02:25am EST

TOKYO, Oct 19 (Reuters) - Japan's Nikkei closed higher on Tuesday, boosted by heavyweight technology stocks that tracked Nasdaq's gains, even as concerns prevailed ahead of the domestic earnings season starting next week.

The Nikkei share average ended up 0.65% at 29,215.52, while the broader Topix edged up 0.36% to 2,026.57 after briefly turning negative earlier in the session.

"Investors are awaiting corporate results and forecasts. There are some factors that could affect the outlook, such as the weakened yen and rising oil prices," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management.

"Also, investors sold value stocks as U.S. and Japanese interest rates dropped in early Asian trading hours, which is why banks and car makers were weak," he said, referring to Japanese government bond and U.S. Treasury yields.

Overnight, the Nasdaq and the S&P 500 closed higher amid gains in U.S. mega-cap technology and other growth names, while the Dow edged lower.

Chip-making equipment maker Tokyo Electron rose 1.86%, global technology investor SoftBank Group jumped 3.06% and robot maker Fanuc advanced 1.61%.

Toyota Motor weighed the most on the Topix with a 0.49% drop, while Mitsubishi UFJ Financial Group slipped 0.77%.

Shippers gained the most among the exchange's 33 industry sub-indexes with a 7.07% jump. Kawasaki Kisen rose 8.57% and Nippon Yusen added 7.43%.

Oil explorers were the biggest losers among sectors as crude oil prices eased, falling 3.78%. Inpex fell 3.86% and Japan Petroleum Exploration lost 5.1%. (Reporting by Junko Fujita; Editing by Subhranshu Sahu and Uttaresh.V)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FANUC CORPORATION -0.41% 23045 End-of-day quote.-9.13%
INPEX CORPORATION 1.53% 927 End-of-day quote.66.73%
JAPAN PETROLEUM EXPLORATION CO., LTD. 1.59% 2365 End-of-day quote.26.07%
KAWASAKI KISEN KAISHA, LTD. 12.87% 6140 End-of-day quote.190.72%
MITSUBISHI UFJ FINANCIAL GROUP, INC. 1.50% 623.2 End-of-day quote.36.64%
NIPPON YUSEN KABUSHIKI KAISHA 2.13% 8160 End-of-day quote.239.72%
SOFTBANK GROUP CORP. -0.71% 5559 End-of-day quote.-31.01%
TOKYO ELECTRON LIMITED -0.47% 59300 End-of-day quote.54.43%
Latest news "Economy & Forex"
11:50aFormer u.s. senator bob dole, longtime republican leader, dies at 98 - cnbc
11:46aTurkish healthcare unions plan limited strikes amid lira turmoil
10:51aIndia detects seven more Omicron cases, making 12 in all
10:42aSahel Leaders Commit to Ambitious Reforms to Support Access to Quality Education
10:42aWORLD BANK : Nouakchott Declaration on Education in the G5 Sahel Countries
09:42aPRESIDENCY OF REPUBLIC OF TURKEY : President Erdoğan to Visit Qatar
09:26aS.Africans protest against Shell oil exploration in pristine coastal area
09:00aHawkish Fed boosts value stocks' appeal for some investors
08:52aCENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : China to deepen financial opening-up amid closer regional cooperation
08:45aVietnam to pay attention to monetary policy after U.S. report - central bank official
Latest news "Economy & Forex"