Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Nikkei ends higher on SoftBank boost; records 2% weekly drop

Published 03/26/2021, 02:54 PM
Updated 03/26/2021, 03:00 PM
© Reuters.

TOKYO, March 26 (Reuters) - Japanese shares closed higher on
Friday, with SoftBank leading the gains on the Nikkei index, as
investors scooped up beaten-down names after their sharp retreat
this week.
The Nikkei share average .N225 ended 1.56% higher at
29,176.70, while the broader Topix .TOPX advanced 1.46% to
close at 1,984.16.
For the week, the Nikkei shed 2% and the Topix was down
1.4%.
"This is a reaction from a sharp fall this week," said
Takashi Hiroki, chief strategist at Monex Securities.
"Investors have been selling stocks to rebalance their
portfolios toward the end of the fiscal year ending March and
that weighed on the indexes."
Aiding sentiment, Wall Street closed higher overnight on
renewed optimism for economic recovery after U.S. President Joe
Biden pledged to double his administration's vaccination rollout
plan. Nikkei heavyweight SoftBank Group 9984.T rose 1.8%, making
it the biggest contributor to the index, followed by chip
testing equipment maker Advantest 6857.T , which jumped 4.65%.
Uniqlo brand clothing store operator Fast Retailing
9983.T , up 0.88%, also lifted the Nikkei index.
Toyota Motor 7203.T and Sony 6758.T were the biggest
contributors to the Topix, rising 2.48% and 1.96%, each.
All the 33 sector sub-indexes on the Tokyo exchange traded
higher, with transport sector leading gains.
The largest percentage gainers on the index were IHI
7013.T up 5.13%, followed by Aeon's 8267.T 4.79% gain.
Citizen Watch 7762.T , down 1.76 %, was the biggest
percentage loser on the index, followed by Showa Denko 4004.T
losing 1.71 % and Tokai Carbon 5301.T falling 1.52 %.
There were 195 advancers on the Nikkei index against 25
decliners.

Latest comments

Install Our App
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.