Investing.com - Financial Markets Worldwide
Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Nikkei pauses as profit-taking hits transport stocks

Published 05/27/2020, 11:28 AM
Updated 05/27/2020, 11:30 AM
© Reuters.
JP225
-
TOPX
-
9021
-
9022
-
8035
-
9202
-
6857
-

SYDNEY, May 27 (Reuters) - Japan's benchmark stock index
Nikkei paused on Wednesday after hitting a 2-1/2-month high in
the last session, as investors locked in profits from recent
strong gains in transport companies.
The Nikkei average .N225 eased 0.02% to 21,266.23 by the
midday break, after moving back and forth between positive and
negative territories in morning trade. It gained 4.3% in the
previous two sessions to hit its highest level since March 5.
Japanese Prime Minister Shinzo Abe on Monday lifted the
coronavirus state of emergency in greater Tokyo and northern
island of Hokkaido, ending the restrictions nationwide as
businesses begin to reopen. Investors cheered the decision as getting greater Tokyo,
which accounts for one-third of Japan's gross domestic product,
back on its feet is vital to the country's overall economic
recovery, resulting in a rally in air and land transport
companies this week.
West Japan Railway 9021.T dropped 3.3% and Central Japan
Railway 9022.T shed 2.6%, while ANA Holdings 9202.T slipped
1.3% as investors moved to pocket profits from recent gains.
Tokyo-listed semiconductor-related companies also came under
pressure amid rising tensions between the United States and
China.
Chipmaking gear manufacturers Tokyo Electron Ltd 8035.T
and Screen Holdings slid 4.0% each, and test device maker
Advantest Corp 6857.T fell 1.8%.
U.S. President Donald Trump said late on Tuesday he was
preparing to take action against China this week over its effort
to impose national security laws on Hong Kong, but gave no
further details. The broader Topix .TOPX edged up 0.2% to 1,538.20 by the
recess, its highest midday level since March 3, with about
two-thirds of 33 sector sub-indexes on the Tokyo exchange
trading higher.

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.