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Markets

Tokyo's Nikkei opens slightly lower on patchy US trade

  • Hitachi was up 3.50 percent at 4,721 yen after it raised its full-year operating profit forecast.
Published February 4, 2021

TOKYO: Tokyo's benchmark Nikkei index opened marginally lower on Thursday after Wall Street shares finished little changed, but with sound corporate earnings reports supporting individual shares.

The benchmark Nikkei 225 index was down 0.28 percent or 79.32 points at 28,567.18 in early trade, while the broader Topix index gained 0.15 percent or 2.81 points to 1,873.90.

"The Japanese market is seen mixed with purchases and sales following a patchy US session due to a sense of overheating in the market," senior strategist Yoshihiro Ito of Okasan Online Securities said in a commentary.

But "brisk corporate performances are supporting (some) share prices," he added.

The dollar fetched 105.02 yen in early Asian trade, against 105.03 yen in New York late Wednesday.

Sony skyrocketed 10.11 percent to 11,710 yen after it revised up sales and profits forecasts this year as fresh virus lockdowns continue to boost demand for games and consoles, including the recently released PlayStation 5.

Hitachi was up 3.50 percent at 4,721 yen after it raised its full-year operating profit forecast.

Industrial robot maker Fanuc was down 1.36 percent at 27,840 yen after three days of rallies.

On Wall Street, the Dow ended up 0.1 percent at 30,723.60 and the broad-based S&P closed up 0.1 percent while the tech-rich Nasdaq slipped less than 0.1 percent.

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