Roundup: Tokyo stocks end mix on tech-shares' rise, profit-taking

0 Comment(s)Print E-mail Xinhua, November 12, 2020
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TOKYO, Nov. 12 (Xinhua) -- Tokyo stocks ended mixed Thursday, with tech-linked issues finding favor and helping the Nikkei's winning streak hit an eight straight day, although gains were pared by profit-taking following the market's recent rise.

The 225-issue Nikkei Stock Average climbed 171.28 points, or 0.68 percent, from Wednesday to close the day at 25,520.88, marking its highest closing level since June 4, 1991.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 2.84 points, or 0.16 percent, to finish at 1,726.23.

Trading got off to a bright start as technology issues rallying overnight on Wall Street helped lift their counterparts here higher, local brokers said.

Hopes for a COVID-19 vaccine and, more broadly, the global economic recovery from the pandemic, continued to underpin an upbeat market mood, they added.

But the index dipped into negative territory in later trade as some investors opted to lock in gains after the Nikkei extended its rally to an eight straight day, retaking the 25,500 mark and closing at its highest level since June 1991.

Japanese firms reporting robust sales and profit guidances also funneled into a predominantly risk-on mode Thursday, market strategists here also highlighted.

By the close of play, information and technology, and precision instrument issues led notable gainers, while real estate and insurance issues comprised those that declined the most.

Among tech shares finding favor, SoftBank ended the day 1.5 percent higher, while Sony gained 1.3 percent, following the release of its next-generation PlayStation 5 video game consoles in Japan and elsewhere.

Screen Holdings added 2.3 percent, while Advantest rose 2.7 percent. Industrial robotics maker Fanuc, meanwhile, ended the day 3.2 percent higher.

Department store operators bucked the upward trend, however, as investors opted for gains, with Takashimaya falling 4.8 percent, while J.Front Retailing dropped 4.7 percent.

Retail issues also weighed, with Sumitomo Realty & Development down 4.2 percent, Tokyu Fudosan Holdings slumping 6.1 percent, while Mitsubishi Estate retreated 4.9 percent by the close.

Issues that fell outpaced those that rose by 1,365 to 734 on the First Section, while 77 ended the day unchanged.

On the main section on Thursday, 1,348.00 million shares changed hands, dropping from Wednesday's volume of 1,683.20 million shares.

The turnover on the penultimate trading day of the week came to 2.805 trillion yen (26.636 billion U.S. dollars). Enditem

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