Roundup: Tokyo stocks end mixed as chip stocks drop, transportation issues climb

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TOKYO, May 26 (Xinhua) -- Tokyo stocks closed mixed on Thursday as semiconductor issues lost ground, although transportation-related issues gained as Japan plans to further ease its COVID-19 border controls.

The 225-issue Nikkei Stock Average dropped 72.96 points, or 0.27 percent, from Wednesday to close the day at 26,604.84.

The broader Topix index, meanwhile, edged up 1.00 point, or 0.05 percent, to finish at 1,877.58.

Brokers here said that chip-oriented stocks weighed early on, and despite the U.S. Federal Reserve's upbeat view of the economy in its latest minutes of its monetary policy meeting, concerns remained.

"Losses in chip-related stocks weighed on the market since this morning, and as a result gains in airlines and other reopening stocks failed to lift the market," Shigetoshi Kamada, general manager at the research department at Tachibana Securities, was quoted as saying.

"With the absence of domestic market-moving catalysts, investors sought cues from overseas. Even as they digested the Fed minutes, investors were not certain if the U.S. economy will improve going forward," said Kamada.

Losses were capped, however, dealers here said, as investors took heart in the Japanese government's plan to raise the cap on foreign travelers coming to Japan, with the move raising the prospect for increased business in the travel and tourism sector.

"Japanese markets lacked direction as they were weighed by the recent volatility of U.S. stocks while supported by hopes that more economic activities will resume after COVID-19 countermeasures are further eased," Yutaka Miura, senior technical analyst at Mizuho Securities Co., was quoted as saying.

By the close of play, nonferrous metal and electric appliance issues comprised those that declined the most, while air transportation and land transportation issues were notable gainers.

Issues that rose outpaced those that fell by 1,036 to 718 on the Prime Market, while 83 ended the day unchanged.

Among semiconductor issues losing ground, Advantest dropped 3.6 percent, while Tokyo Electron lost 2.4 percent. Industrial robotics maker Fanuc, meanwhile, ended down 2.2 percent.

Transportation-linked issues gained, with Japan Airlines rising 2.2 percent, while ANA Holdings added 1.9 percent.

Railway operator East Japan Railway, meanwhile, advanced 2.5 percent by the close.

On the Prime Market on Thursday, 1,085.81 million shares changed hands, dropping from Wednesday's volume of 1,164.92 million shares.

The turnover on the penultimate trading day of the week came to 2,714.21 billion yen (21.43 billion U.S. dollars). Enditem

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