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

Nikkei falls as market heavyweights offset gains in drugmakers

06/07/2021 | 11:25pm EST

TOKYO, June 8 (Reuters) - Japan's stock index Nikkei changed course and inched down on Tuesday, as losses in market heavyweights offset gains in drugmakers after Eisai Co's Alzheimer drug received U.S. nod.

Nikkei share average inched down 0.11% to 28,987.58 by 0235 GMT, while the broader Topix edged up 0.06% to 1,962.07.

"The news on Eisai has given a boost to its peers as well as the overall market," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

"Investors are also scooping up Japanese shares which lagged behind their global peers as prospects of an economic recovery has brightened amid a rollout of COVID-19 vaccines."

But Nikkei's earlier gains were snapped as investors were cautious ahead of the U.S. consumer price index (CPI) report this week and the U.S. central bank's meeting next week, market participants said.

U.S. regulators on Monday approved a drug jointly developed by Eisai and Biogen Inc's as the first treatment to attack a likely cause of Alzheimer's disease.

Drug makers were the top gainers among the Tokyo Stock Exchange's 33 industry subindexes, with Eisai remaining untraded as buy orders far exceeded sell orders.

Daiichi Sankyo jumped 4.58% and Astellas Pharma rose 1.83%.

Losses in index heavyweights, however, weighed on the markets, with global start-up investor SoftBank Group down 1.56% and air-conditioner maker Daikin Industries losing 2.9%.

Kawasaki Kisen Kaisha, up 5.38%, was the biggest gainer on Nikkei, followed by Daiichi Sankyo.

Sumitomo Metal Mining , down 3.41%, was the largest decliner on the index, followed by Oji Holdings losing 2.37% and Daikin Industries.

There were 130 advancers on the Nikkei index against 86 decliners.

(Reporting by Junko Fujita; Editing by Rashmi Aich)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASTELLAS PHARMA INC. -2.96% 1836.5 End-of-day quote.15.21%
BIOGEN INC. -0.63% 241.45 Delayed Quote.-0.80%
DAIICHI SANKYO COMPANY, LIMITED -1.02% 2912 End-of-day quote.-17.62%
DAIKIN INDUSTRIES,LTD. -1.38% 23645 End-of-day quote.3.16%
EISAI CO., LTD. -1.54% 7045 End-of-day quote.-4.44%
IWAICOSMO HOLDINGS, INC. -2.34% 1296 End-of-day quote.-1.14%
KAWASAKI KISEN KAISHA, LTD. 2.81% 4945 End-of-day quote.134.14%
NIKKEI 225 -1.63% 28283.92 Real-time Quote.4.76%
OJI HOLDINGS CORPORATION -2.93% 530 End-of-day quote.-9.71%
SANKYO CO., LTD. -2.62% 2903 End-of-day quote.4.05%
SOFTBANK GROUP CORP. -2.02% 6208 End-of-day quote.-22.96%
SUMITOMO METAL MINING CO., LTD. -2.64% 4236 End-of-day quote.-7.49%
Latest news "Economy & Forex"
10:34aEUROPEAN GAS PRICES CLIMB AGAIN, INVENTORIES UNDER PRESSURE : Kemp
RE
10:33aGuterres appeals to all governments to consider repeated traveler testing - together with 'appropriate, truly effective measures' - to avoid transmission risk and allow for travel, economic engagement
RE
10:33aGuterres says 'the people of africa cannot be blamed for the immorally low level of vaccinations available in africa'
RE
10:33aU.n. chief antonio guterres 'deeply concerned' about isolation of southern african countries due to new covid-19 travel restrictions - statement
RE
10:32aRyanair ceo o'leary says we don't think there is any risk for european travel for people who are vaccinated or have negative covid test
RE
10:30aAsda says q3 like-for-like sales, excluding fuel, down 0.7% year-on-year
RE
10:30aUk supermarket asda says q3 revenue 4.93 billion pounds ($6.56 billion)
RE
10:30aAsda says recruited 15,000 temporary workers for christmas period
RE
10:30aAsda says q3 like-for-like sales, excluding fuel, up 2% on a two-year basis
RE
10:30aAsda says chartered own cargo ship to protect availability of key festive products
RE
Latest news "Economy & Forex"