TOKYO, May 20 (Reuters) - Japanese shares erased early
losses on Thursday, led by chipmakers tracking overnight gains
by U.S. peers, but investors refrained from making active bets
awaiting fresh cues after most companies announced their
The Nikkei share average edged up 0.07% to 28,063.39
by 0201 GMT, after losing as much as 0.8% earlier in the
session, while the broader Topix was down 0.18% to
"The Japanese market does not have its own reasons for a
movement right now after most of corporate outlook is out," said
Takatoshi Itoshima, strategist at Pictet Asset Management.
"While there are uncertainties surrounding Japan that weigh
on sentiment, such as slow rollouts of vaccines and whether and
how the Olympics will be held."
U.S. main indexes closed lower overnight, however, Japanese
chip related firms tracked the Philadelphia Semiconductor
index's higher, with Tokyo Electron rising 1.58%
and Advantest jumping 2.63%.
Index heavyweight Fast Retailing lost 0.94% after a
report said that its Uniqlo brand shirts were blocked at the
United States border in January on concerns they violated a ban
on cotton products produced in the Xinjiang region of China.
Its rival Ryohin Keikaku, the operator of the Muji
brand casual goods stores, also fell 1.47%.
Taiyo Yuden, up 4.68%, was the largest percentage
gainer on the Nikkei, followed by Credit Saison gaining
3.99 % and Alps Alpine, which rose 3.29%.
Steel makers, which gained sharply in the past month,
dropped, with JFE Holdings Inc falling 4.57% and Nippon
Steel losing 4.85%.
The Mothers Index of start-up firm shares gained
(Reporting by Junko Fujita; Editing by Rashmi Aich)