TOKYO, Dec 4 (Reuters) - Japanese shares on Friday retreated
from a near 29-1/2-year high, as risk sentiment soured following
a report that U.S. drugmaker Pfizer Inc slashed the target for
the rollout of its coronavirus vaccine.
The benchmark Nikkei share average lost 0.44% to
26,690.47 by the midday break, but was poised for its fifth
consecutive weekly gain. In the previous session, the index
settled near its highest since April 1991.
The broader Topix fell 0.2% to 1,771.63.
The market tracked overnight weak performance on Wall
Street's S&P 500 index, which fell from all-time highs, after
Pfizer flagged challenges in supply chain for the raw
materials used in its vaccine.
A stronger yen, last trading at 103.86 per dollar, also
provided headwind for export-oriented stocks. Fanuc
fell 1.1%, while Sony Corp edged 0.23% lower.
But market losses were limited by hopes that governments at
home and abroad will deliver more economic stimulus, analysts
said.
Some auto-related shares advanced after local media reported
that Japan may ban sales of new gasoline-engine cars by the
mid-2030s, and that the government would hold talks next week to
establish a carbon offset market for the industry.
These moves come after Prime Minister Yoshihide Suga's
pledge for Japan to slash carbon emissions to zero on a net
basis by 2050.
Denso Corp jumped more than 6.3%, while Nissan
Motor and Toyota Motor Corp added 0.74% and
0.54%, respectively.
Battery-related shares followed suit, with Furukawa Battery
spiking 9% and FDK Corp edging up 0.61%.
Toshiba Corp jumped 3.47% on a report that Kioxia,
previously known as Toshiba Memory, received permission from the
U.S. authorities to export some products to Huawei Technologies.
Suga is expected to hold a news conference later in the day
to provide an update on the country's pandemic response, his
first since coronavirus case numbers surged in November.
(Reporting by Eimi Yamamitsu, Editing by Sherry Jacob-Phillips)
Canada
Deutschland
España
France
Italia
Schweiz (DE)
United Kingdom
