Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Japanese shares fall as investors look past upbeat corporate outlook

Published 04/27/2021, 10:59 AM
Updated 04/27/2021, 11:00 AM
© Reuters.

© Reuters.

TOKYO, April 27 (Reuters) - Japanese shares inched lower on
Tuesday as investors looked past upbeat corporate outlook amid
worries about the government's handling of the COVID-19
pandemic, while chip-related stocks took cues from a positive
finish overnight on the Nasdaq.
The Nikkei share average .N225 inched down 0.15% to
29,083.82 by 0211 GMT, while the broader Topix .TOPX slipped
0.37% to 1,910.83.
"There are uncertainties on the effect of the state of
emergency that is imposed on certain parts of Japan, as many
people seem to be ignoring it," said Takatoshi Itoshima,
strategist at Pictet Asset Management.
"Shares in companies, which reported positive earnings, are
not rising. That means investors' expectations for corporate
outlook are too high."
Japan imposed a third state of emergency on Tokyo and other
big cities, but local media have reported many parts of Tokyo
are still crowded as people aren't complying with the order.
Chip-related shares gained, aided by a strong finish for the
Nasdaq .IXIC overnight. Tokyo Electron 8035.T inched up
0.29%, TDK 6762.T gained 1.45% and Kyocera 6971.T rose
0.95%.
Camera and medical equipment maker Canon 7751.T edged down
0.19% even after its annual operating profit forecast beat
market consensus. Nitto Denko 6988.T slipped 1.49% after the industrial
materials maker's annual net profit forecast missed analysts'
consensus. The stocks that gained the most among the top 30 core Topix
names were Nidec 6594.T up 1.31 %, followed by Sumitomo Mitsui
Financial Group 8316.T rising 1.17%.
The underperformers among the Topix 30 were Keyence 6861.T
down 2.92%, followed by Hoya 7741.T that lost 1.99%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.