TOKYO, April 16 (Reuters) - Japanese shares closed slightly
higher on Friday as heavyweight chip shares rallied, although
concerns around corporate outlook capped the gains.
The Nikkei index .N225 ended up 0.14% at 29,683.37, while
the broader Topix .TOPX inched up 0.09% to close at 1,960.87.
Chip-related shares gained after Taiwan Semiconductor
Manufacturing Ltd (TSMC) 2330.TW , TSM.N reported a 19.4%
rise in first-quarter profit on strong chip demand. Advantest 6857.T rose 0.38%, Tokyo Electron 8035.T
gained 0.37% and Renesas Electronic 6723.T jumped 2.48%.
But, NLI Research Institute's chief equity strategist Shingo
Ide points out that investors are getting cautious about
corporate outlook ahead of earnings season starting next week as
their expectations were so high.
Electronic components maker Nidec 6594.T will kickstart
earnings for major Japanese manufacturers on Thursday.
Robot maker Yaskawa 6506.T , the leading indicator on
Japanese manufacturers' earnings trend, this week disappointed
investors with its profit outlook and its stock has lost more
than 7% this week.
Aiding the cautious stance is the likely expansion of
quasi-emergency measures to 10 regions due to a surge in cases
of the novel coronavirus. Among individual shares and sectors, Toshiba 6502.T
dropped 6.03% after a report that the conglomerate told its
lenders that it plans to reject a buyout proposal from private
equity firm CVC Capital Partners. Toho 9602.T , up 3.95%, was the largest percentage gainer
on the Nikkei index, followed by Marui Group 8252.T gaining
3.18% and Daiwa House Industry 1925.T , up 3.06%.
Tokyo Electric Power 9501.T , down 4.73%, was the largest
percentage loser on the Nikkei, followed by Sharp 6753.T ,
losing 3.07%, and Screen Holdings 7735.T down 2.92 %.
There were 117 advancers on the Nikkei index against 106
decliners.
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Japanese shares end higher on chip stocks boost; corporate outlook worries cap gains
Published 04/16/2021, 03:03 PM
Updated 04/16/2021, 03:10 PM
Japanese shares end higher on chip stocks boost; corporate outlook worries cap gains
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