TOKYO, Oct 19 (Reuters) - Japan's Nikkei closed higher on
Tuesday, boosted by heavyweight technology stocks that tracked
Nasdaq's gains, even as concerns prevailed ahead of the domestic
earnings season starting next week.
The Nikkei share average ended up 0.65% at
29,215.52, while the broader Topix edged up 0.36% to
2,026.57 after briefly turning negative earlier in the session.
"Investors are awaiting corporate results and forecasts.
There are some factors that could affect the outlook, such as
the weakened yen and rising oil prices," said Masahiro Ichikawa,
chief market strategist at Sumitomo Mitsui DS Asset Management.
"Also, investors sold value stocks as U.S. and Japanese
interest rates dropped in early Asian trading hours, which is
why banks and car makers were weak," he said, referring to
Japanese government bond and U.S. Treasury yields.
Overnight, the Nasdaq and the S&P 500 closed
higher amid gains in U.S. mega-cap technology and other growth
names, while the Dow edged lower.
Chip-making equipment maker Tokyo Electron rose
1.86%, global technology investor SoftBank Group jumped
3.06% and robot maker Fanuc advanced 1.61%.
Toyota Motor weighed the most on the Topix with a
0.49% drop, while Mitsubishi UFJ Financial Group
Shippers gained the most among the exchange's 33
industry sub-indexes with a 7.07% jump. Kawasaki Kisen
rose 8.57% and Nippon Yusen added 7.43%.
Oil explorers were the biggest losers among sectors
as crude oil prices eased, falling 3.78%. Inpex fell
3.86% and Japan Petroleum Exploration lost 5.1%.
(Reporting by Junko Fujita; Editing by Subhranshu Sahu and