TOKYO, April 9 (Xinhua) -- Tokyo stocks ended mixed Tuesday as a rise in technology issues following a solid performance overnight by U.S. chip-related stocks was offset by caution ahead of key economic events later this week.

The 225-issue Nikkei Stock Average edged 40.94 points, or 0.19 percent higher, from Monday to close the day at 21,802.59.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, shed 1.38 points, or 0.09 percent, to finish at 1,618.76.

A weak lead from the Dow Jones Industrial Average overnight initially dented investor sentiment, local brokers said, with selling for profit taking the upper hand in early trade.

They added that technology issues remained relatively solid, however, tracking gains by U.S. chipmakers overnight.

A comparatively firm yen against the U.S. dollar weighed on the market, particularly the export sector, traders here said, with investors opting not to chase the market higher following the Nikkei's almost 3 percent rise last week.

A wait-and-see mood ahead of economic events later in the week saw investors retreat to the sidelines in later trade, market strategists pointed out.

These events include the release on Wednesday of the minutes of the U.S. Federal Reserve's policy setting meeting held last month and a decision expected Friday by the European Council on Britain's request to further delay its exit from the European Union.

Yutaka Miura, senior technical analyst at Mizuho Securities Co., noted that it was "difficult for traders to take fresh positions ahead of key events later in the week in the United States and Europe."

By the close of play, oil and coal product, electric appliance and semiconductor issues comprised notable advancers, while electric power, gas and retail-linked issues led those that declined the most.

Issues that fell outpaced those that rose by 1,318 to 705 on the First Section, while 117 ended the day unchanged.

On the main section on Tuesday, 1,105.44 million shares changed hands, rising from Monday's volume of 1,057.43 million shares.

The turnover on the second trading day of the week came to 1,942.6 billion yen (17.46 billion U.S. dollars). Enditem

Related

Go to Forum >>0 Comment(s)