TOKYO, March 25 (Reuters) - Japanese shares closed higher on
Thursday as investors scooped up beaten-down cyclical stocks,
although gains were capped by technology shares that tracked
The Nikkei 225 Index ended 1.14% higher at
28,729.88, ending a four-day losing streak, while the broader
Topix jumped 1.4% to close at 1,955.55 after falling in
three straight sessions.
"There were a lot of pessimistic news that prompted
investors to sell cyclical shares (yesterday). They are buying
back those today," Shoichi Arisawa, general manager of the
investment research department at IwaiCosmo Securities.
Nikkei heavyweight Fast Retailing, the operator of
Uniqlo brand clothing store, led the gains on Nikkei with its
Banking stocks jumped, with Mitsubishi UFJ Financial Group
rising 2.48% and Sumitomo Mitsui Financial Group
climbing 2.6%. Mizuho Financial Group gained
Toyota Motor edged up 0.43% after the automaker
revived a partnership with Isuzu Motor to boost their
competitive edge in connected, commercial vehicles, with
Toyota's truck unit Hino Motors Ltd joining in the
Isuzu fell 1.94%, while Hino slumped 5.19% following a surge
on the news on Wednesday, making it the biggest loser on the
Chip-related shares fell, with Advantest losing
1.89% and Tokyo Electron sliding 1.49%. They tracked a
weak show by the Nasdaq overnight.
Tech investor SoftBank Group, down 2.84%, was the
second biggest loser on the Nikkei.
All the 33 sector sub-indexes on the Tokyo exchange traded
higher, led by the sea transport industry.
The stocks that gained the most among the top 30 core Topix
names were Fanuc, up 4.01%, followed by Recruit
Holdings, rising 3.68%.
The underperformers among the Topix 30 were SoftBank Group,
followed by Nintendo losing 1.31%.
There were 207 advancers on the Nikkei index against 17
(Reporting by Junko Fujita; editing by Uttaresh.V)