Japanese shares fall weighed by chip shares; Sony jumps on upbeat forecast
Sony’s shares rose 9.54 per cent to hit its highest stage since September 2000, and have been the largest gainer on the Nikkei share common, after the electronics and media big raised its full-year revenue outlook.
Nikkei declined 1.06 per cent at 28,341.95, whereas the broader Topix dipped 0.32 per cent to 1,865.12.
Chip-related shares led losses, with Advantest falling 3.94 per cent, Sumco shedding 3.8 per cent and Fanuc declining 3.26 per cent. Tokyo Electron fell 2.6 per cent.
“Chip-related shares rose too much before the earnings season started but now all the good news are out,” mentioned Norihiro Fujito, chief funding strategist at Mitsubishi UFJ Morgan Stanley Securities.
“Virus-beaten down transport shares are gaining but whether those shares could maintain the momentum is questionable as the pandemic is far from over.”
Transport shares continued to rise on Thursday, with Japan Airlines and West Japan Railway gaining 1.48 per cent and 0.71 per cent, respectively.
Brokerages gained probably the most among the many 33 sector sub-indexes on the Tokyo change as Nomura Holdings jumped 4.09 after reporting sturdy earnings. Daiwa Securities Group rose 2.03 per cent.
The sea transport sector jumped 2.96 per cent after Kawasaki Kisen raised its outlook. The transport firm rose 4.39 per cent and its peer Nippon Yusen gained 4.3 per cent.
Kao fell 8.19 after the cosmetics and toiletries maker reported a 14.9 per cent decline in its annual web revenue, making it the largest loser on the Nikkei. Z Holdings adopted by shedding 6.37 per cent and Kikkoman was down 6.09 per cent.
