TOKYO, Sept 2 (Reuters) - Japan's Topix ended at a more than
five-month peak on Thursday, recovering from earlier losses, as
a tech rally offset a slump in transport shares.
The Topix rose 0.14% to 1,983.57, its highest
closing level since March 29. The index rallied for a fourth
straight session. The Nikkei share average ended 0.33%
higher at its highest since July 14 of 28,543.51.
NTT and Nintendo were the top two
performers among the 30 core Topix names, gaining 2.03% and
1.81%, respectively, while Sony Group added 1.40%.
Chipmakers rose with Advantest adding 2.07% and
Tokyo Electron up 1.16%. Mobile game maker Nexon
was the Nikkei's second-best performer, rallying 2.80%.
The best performer was sauce-maker Kikkoman,
Those gains offset the drag from a record 13.36% slump for
West Japan Railway (JR West) after saying it would sell
new shares, which pulled down other rail and transport stocks.
Despite gains overall, market participants said a monthly
U.S. employment report due Friday, considered crucial to the
Federal Reserve's plans for tapering stimulus, was keeping
"It's difficult to chase the market higher, although
technically you can feel there's fundamental strength supporting
prices," said a person at a domestic securities firm.
The Nikkei's three worst performing stocks were all
railways. JR East slumped 6.90% and JR Central
Airlines ANA Holdings and Japan Airlines
fell 2.57% and 1.38%, respectively.
The land transport sub-sector was the worst
performer on the Topix with a drop of 3.18%, while air transport
(Reporting by Tokyo markets team; Editing by Subhranshu Sahu
and Rashmi Aich)