TOKYO, June 16 (Reuters) - Japan's benchmark Nikkei index
ended lower on Wednesday as chip-related stocks tracked
overnight weakness in U.S. peers, although hopes for a
vaccine-driven domestic economic recovery lifted cyclical
The Nikkei share average fell 0.51% to close at
29,291.01, while the broader Topix ticked up 0.02% to
1,975.86, supported by Toyota Motor as the automaker
hit another record high.
"Many investors are holding their bets as they await the
outcome of the Federal Reserve meeting, but cyclical stocks that
are set to benefit in the post-pandemic era are solid," said
Yutaka Miura, senior technical analyst at Mizuho Securities.
Wall Street's all three major indexes dropped overnight as
markets awaited fresh guidance from the U.S. Federal Reserve.
Following declines in the Philadelphia Semiconductor index,
chipmaking equipment supplier Tokyo Electron fell 1.1%
and semiconductor test equipment supplier Advantest
ticked down 0.19%.
But shares of energy, material
and shipping companies advanced.
Among them, Japan's biggest oil and gas explorer Inpex
jumped 3.7% as oil prices hit their highest in more
than two years.
Hopes for an economic reopening lifted department store
shares, with Takashimaya jumping 2.07% and Isetan
Mitsukoshi Holdings edging up 0.24%.
Conglomerate Hitachi and air-conditioner maker
Daikin Industries also supported the Topix by rising
2.48% and 2.22%, respectively.
Kawasaki Kisen Kaisha gained 4.94% and was the top
gainer on the Nikkei, followed by CyberAgent, which
The largest loser was Unitika, falling 3.38%,
followed by GS Yuasa, losing 3.2%, and Sony Group
, down 2.86%.
The volume of shares traded on the Tokyo Stock Exchange's
main board was 1.03 billion, compared with the average of 1.18
billion in the past 30 days.
The Mothers Index of start-up firm shares fell for
the first time in eight days, losing 0.13%.
(Reporting by Junko Fujita; Editing by Aditya Soni)