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MarketScreener Homepage  >  Indexes  >  Nikkei 225    N225   JP9010C00002


Real-time Quote. Real-time  - 01/22 01:25:00 am
28631.45 PTS   -0.44%
01/23Sumitomo Corp to stop investing in new oil development projects-Nikkei
01/22Weak data, earnings drag stocks lower; oil falls
01/22Stocks, oil fall on weak data, earnings
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Japanese shares end almost flat just below three-month high as rally loses steam

06/10/2020 | 03:25am EST
Attendees are seen next to a screen showing stock price index after the New Year opening ceremony at the Tokyo Stock Exchange (TSE), held to wish for the success of Japan's stock market in Tokyo

Japanese shares closed nearly flat on Wednesday, ending just below a three-month high hit earlier this week, as investors paused to take stock of the market that rose on hopes of a swift recovery from a coronavirus-led downturn.

The Nikkei share average <.N225> ended up 0.15% at 23,124.95, while the broader Topix lost 0.23% to 1,624.71.

"The market has been recovering but many people are concerned about the outlook. Given the current stretched valuations, we could see a correction in the near term," said Masato Futoi, deputy general manager of institutional sales at Tokai Tokyo Securities.

With the Topix trading at 16 times expected earnings over the next 12 months, the highest level in seven years, some Japanese players were taking profits ahead of the U.S. Federal Reserve's policy meeting later in the day.

Takara Bio rose 17.5%, by daily limit, to a seven-year high after the Japanese biotechnology firm said it has developed a method to speed up PCR tests for COVID-19.

The parent company Takara Holdings was the best performer on the Nikkei, with gains of 9.9%.

Growth-oriented shares, which have high valuations because of strong expectations, are making a comeback, with the Topix Growth index rising 0.2%. Topix value shed 0.7%.

Among growth shares, Shin-Etsu Chemical rose 2.2%, Astellas Pharma gained 1.9% and Recruit Holdings added 1.7%, while Sony rose 1.3%.

Shares in the Tokyo Stock Exchange's Mothers start-up market also outperformed, with its index rising 1.5% after hitting a 1-1/2-year high.

On the other hand, many of value shares - those with relatively cheap valuations - underperformed following stellar gains in the past couple of weeks.

Constructors <.ICONS.T> fell 1.7% with Shimizu Corp dropping 4.4%, Taisei Corp losing 3.8% and Obayashi Corp shedding 4.9%.

Steelmakers <.ISTEL.T> dropped 2.0%, while insurance companies <.IINSU.T> lost 1.5%.

(Reporting by Hideyuki Sano; Editing by Shailesh Kuber)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASTELLAS PHARMA INC. -1.89% 1685 End-of-day quote.5.71%
BEST INC. -6.58% 2.27 Delayed Quote.11.27%
LETS HOLDINGS GROUP CO., LTD. 5.79% 7.86 End-of-day quote.1.03%
LINE CORPORATION 0.00% 5350 End-of-day quote.0.00%
LOOK HOLDINGS INCORPORATED -1.40% 918 End-of-day quote.-4.08%
NIKKEI 225 -0.44% 28631.45 Real-time Quote.4.33%
OBAYASHI CORPORATION 1.19% 933 End-of-day quote.4.83%
RECRUIT HOLDINGS CO., LTD. 0.43% 4670 End-of-day quote.8.08%
SHIMIZU CORPORATION 1.03% 787 End-of-day quote.4.93%
SHIN-ETSU CHEMICAL CO., LTD. 0.73% 19320 End-of-day quote.7.10%
SONY CORPORATION -1.18% 10480 End-of-day quote.1.90%
TAISEI CORPORATION 0.70% 3610 End-of-day quote.1.55%
TAKARA & COMPANY LTD. -1.94% 1720 End-of-day quote.-1.66%
TAKARA BIO INC. -0.04% 2835 End-of-day quote.2.42%
TAKARA HOLDINGS INC. -1.12% 1238 End-of-day quote.-3.96%
TOKAI CORP. -0.65% 1990 End-of-day quote.-2.21%
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