Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Japan stocks track Wall Street's solid finish to close week higher

06/25/2021 | 02:38am EDT

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 1,962.65.

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 remains uncertain.

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 infrastructure deal.

"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 gaining 1.66%.

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 Jacob-Phillips)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION 2.44% 11350 End-of-day quote.46.83%
CYBERAGENT, INC. 2.14% 2241 End-of-day quote.26.08%
EISAI CO., LTD. 1.28% 8450 End-of-day quote.14.62%
FANUC CORPORATION 1.27% 26630 End-of-day quote.5.01%
KOBE STEEL, LTD. -3.79% 710 End-of-day quote.28.86%
MAZDA MOTOR CORPORATION 0.10% 958 End-of-day quote.38.44%
MITSUI O.S.K. LINES, LTD. 3.15% 9500 End-of-day quote.201.59%
PANASONIC CORPORATION -1.26% 1413 End-of-day quote.18.69%
TESLA, INC. 0.33% 759.49 Delayed Quote.7.63%
TOKYO ELECTRON LIMITED 1.24% 55430 End-of-day quote.44.35%
TOSHIBA CORPORATION 0.00% 4720 End-of-day quote.63.60%
Latest news "Economy & Forex"
05:33aSwedish budget gives boost for welfare, climate, jobs
RE
05:30aCHINA EVERGRANDE : Asian shares at 1-month low, default fears stalk China Evergrande
RE
05:29aCorporate leverage returns to pre-pandemic levels
RE
05:22aCathay Pacific lowers Q4 capacity forecast as travel restrictions linger
RE
05:11aFour in Five UK Retailers Expect to Close Stores if Business Rates Remain Unchanged
DJ
05:03aGsk - new programmes support delivery of gsk goals of achieving net zero impact on climate and net positive impact on nature by 2030
RE
05:03aGsk - also announced to reduce greenhouse gas emissions from rescue metered dose inhalers, responsible for 45% of gsk's carbon emissions
RE
05:03aGsk - announces ú50m investment in renewable energy and carbon reduction
RE
05:03aPRESS RELEASE : Gsk announces major renewable energy investment and low carbon inhaler programme alongside life sciences sector race to zero Ĺbreakthrough’ at nyc climate week
RE
05:03aCHINA EVERGRANDE : Global sell-off, BoE uncertainty, gas prices push sterling lower
RE
Latest news "Economy & Forex"