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Nikkei tracks overnight losses on Wall Street; tech shares slide

Published 01/28/2021, 11:03 AM
Updated 01/28/2021, 11:10 AM
© Reuters.
JP225
-
TOPX
-
7211
-
3099
-
8035
-
9107
-
6770
-
6857
-
6954
-
9983
-
9984
-
VIX
-
6723
-
4751
-

TOKYO, Jan 28 (Reuters) - Japanese shares tracked overnight
declines in Wall Street, with investors selling tech-related
shares after a sharp rally recently.
The Nikkei share average .N225 fell 1.07% to 28,327.64 by
0202 GMT. The broader Topix .TOPX slid 0.81% to 1,845.01.
"Today's market is tracking the U.S. stock markets. The rise
in the stock volatility index is also prompting investors to
sell down," said Yoshihiro Takeshige, general manager at
investment management department of Asahi Life Asset Management.
U.S. stocks suffered their biggest one-day percentage drop
in three months on Wednesday following the latest Fed statement,
a slump in shares of Boeing and selling of long positions by
hedge funds. .N
In addition, rising coronavirus cases and uneven
distribution of vaccine rollouts have increased investor
anxiety, sending the CBOE Market Volatility index .VIX to its
highest since Oct 30.
Back home, chip-related shares fell, with Renesas
Electronics 6723.T losing 4.56%, Alps Alpine 6770.T falling
3.35% and Advantest 6857.T sliding 3.17%.
Media and internet advertising company CyberAgent 4751.T
fell 8.52%, making it the biggest loser on the Nikkei index.
Nikkei's heavy weights also declined, with SoftBank Group
9984.T sinking 4.15%, Tokyo Electron 8035.T losing 2.62% and
Fast Retailing 9983.T falling 0.12%.
Fanuc 6954.T gained 1.55% after it raised its operating
profit forecast for a second time to 105.8 billion yen ($1.01
billion), a 19.8% increase from a year earlier.
The largest percentage gainer on the index was Isetan
Mitsukoshi Holdings Ltd 3099.T , up 6.77%, followed by
Mitsubishi Motors Corp 7211.T that rose 5.91% and Kawasaki
Kisen Kaisha 9107.T up 5.44%.


($1 = 104.3300 yen)

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