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Delayed Japan Exchange  -  05/27 02:00:00 am EDT
59650.00 JPY   -0.28%
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Japanese shares give up gains on rising U.S. bond yields

01/18/2022 | 01:30am EDT

TOKYO, Jan 18 (Reuters) - Japanese shares reversed course to close lower on Tuesday, as a jump in U.S. bond yields made investors cautious, prompting a sell-off in market heavyweights.

The Nikkei share average fell 0.27% to 28,257.25, after rising as much 0.9% earlier in the session. The broader Topix dropped 0.42% to 1,978.38.

"Sentiment was weakened by rising U.S. Treasury yields. Investors thought the U.S. market would fall this evening," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities, adding mixed messages from the Bank of Japan after its policy meeting also weighed.

The Bank of Japan upgraded its inflation forecasts and flagged heightening chances the recent commodity-driven price hikes will broaden, the latest sign of its conviction Japan is emerging sustainably out of deflation.

U.S. Treasury yields jumped along the curve during Asian trading hours, lifting the shorter end to new pandemic highs, as traders braced for the possibility of a hawkish surprise from the Federal Reserve.

Benchmark 10-year yields rose more than 6 basis points to 1.8550% and Fed funds futures dived as markets baked in a hike in March and three more by the end of the year.

Japanese shares traded in positive territory earlier in the session, tracking a solid finish overnight in European markets.

Uniqlo clothing store owner Fast Retailing ended 2.37% higher, while chip-making equipment maker Tokyo Electron edged up 0.08%. Technology start-up investor SoftBank Group gave up its gains to fall 0.4%.

Japanese railway operators climbed 0.59% even as Tokyo and its surrounding prefectures have sought further measures from the central government to help counter rising COVID-19 infections.

But airliners gave up early gains to end 0.62% lower.

Steel makers were the worst performers on the Nikkei, with Nippon Steel tanking 7.08%, JFE Holdings dropping 6.78% and Kobe Steel falling 6.8%. (Reporting by Junko Fujita; Editing by Sherry Jacob-Phillips and Subhranshu Sahu)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.70% 0.71493 Delayed Quote.-2.35%
BRITISH POUND / US DOLLAR (GBP/USD) -0.01% 1.2616 Delayed Quote.-6.98%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.26% 0.7848 Delayed Quote.-1.39%
EURO / US DOLLAR (EUR/USD) -0.11% 1.07211 Delayed Quote.-6.01%
FAST RETAILING CO., LTD. -0.28% 59650 Delayed Quote.-8.41%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.04% 0.012884 Delayed Quote.-3.94%
IWAICOSMO HOLDINGS, INC. 0.84% 1202 Delayed Quote.-12.03%
JFE HOLDINGS, INC. 1.83% 1556 Delayed Quote.4.16%
JFE SYSTEMS, INC. 2.04% 2199 Delayed Quote.-6.02%
KOBE STEEL, LTD. 2.10% 682 Delayed Quote.15.77%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.76% 0.65294 Delayed Quote.-5.22%
NIKKEI 225 0.66% 26781.68 Real-time Quote.-7.60%
SOFTBANK GROUP CORP. 3.43% 5341 Delayed Quote.-4.97%
TOKYO ELECTRON LTD 3.21% 59120 Delayed Quote.-13.58%
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Analyst Recommendations on FAST RETAILING CO., LTD.
More recommendations
Sales 2022 2 217 B 17 410 M 17 410 M
Net income 2022 194 B 1 520 M 1 520 M
Net cash 2022 621 B 4 874 M 4 874 M
P/E ratio 2022 31,6x
Yield 2022 0,91%
Capitalization 6 112 B 47 996 M 47 996 M
EV / Sales 2022 2,48x
EV / Sales 2023 2,19x
Nbr of Employees 55 589
Free-Float 51,4%
Duration : Period :
Fast Retailing Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends FAST RETAILING CO., LTD.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 59 820,00 JPY
Average target price 69 674,17 JPY
Spread / Average Target 16,5%
EPS Revisions
Managers and Directors
Tadashi Yanai Director
Takeshi Okazaki CFO, Director & Group Senior Executive Officer
Masaaki Shintaku Independent Outside Director
Toru Hambayashi Independent Outside Director
Nobumichi Hattori Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
FAST RETAILING CO., LTD.-8.41%47 996
INDITEX-24.12%68 430
KERING-33.84%59 609
ROSS STORES, INC.-28.81%28 589
HENNES & MAURITZ AB-31.54%20 434
PRADA S.P.A.-10.62%14 539