TOKYO, June 25 (Reuters) - Japanese shares closed higher on
Friday, as cyclicals and technology stocks tracked a strong
finish on Wall Street, although the gains were capped by
concerns over the country's economic recovery and amid a
cautious outlook of U.S. equities.
The Nikkei share average rose 0.66% to close at
29,066.18, while the broader Topix advanced 0.80% to
For the week, the Nikkei gained 0.35% to climb just above
the 29,000-mark, which market participants said has become a
psychological barrier as Japan's outlook of an economic recovery
The Nasdaq and the S&P 500 closed at record
highs overnight, while the Dow jumped almost 1% after
U.S. President Joe Biden embraced a bipartisan Senate
"Today's (Friday) market is tracking Wall Street's strong
gains. But investors, particularly in Japan, are getting wary of
U.S. markets taking a pause anytime soon," Shoichi Arisawa,
general manager of the investment research department at
IwaiCosmo Securities said.
"Prospects of an economic recovery in Japan are getting
unclear as the number of new COVID-19 infections is on the rise
again, and the pandemic could worsen as the country plans to
conduct the Olympics."
Cyclical shares rose, with oil and coal developers
and steel makers leading the Tokyo Stock
Exchange's 33 sector sub-indexes.
Technology stocks also advanced, with Tokyo Electron
rising 0.7%, Advantest jumping 1.5%, Fanuc
Shares of Panasonic jumped 4.93% as a filing made
by the conglomerate showed it had sold its entire stake in Tesla
last fiscal year.
Crisis-ridden Toshiba ended 0.62% lower after
rising up to 1.4% as shareholders voted out its board chairman
and another director at its annual general meeting.
Mazda Motor Corp, up 8.7%, gained the most on the
Nikkei, followed by Kobe Steel rising 4.8%.
Eisai, down 3.96%, was the biggest loser, followed
by Mitsui OSK Lines losing 1.34 % and CyberAgent
I down 1.29%.
(Reporting by Junko Fujita; Editing by Uttaresh.V and Sherry