TOKYO: Japan’s benchmark Nikkei share average inched lower on Thursday as investors tuned cautions about the sustainability of a recent rally above the 30,000 level, though sharp gains in Uniqlo operator Fast Retailing limited the decline.
The Nikkei 225 index settled down 0.19% at 30,236.09, reversing earlier gain, while the broader Topix fell 1% to 1,941.91.
Earlier this week, the Nikkei reclaimed the 30,000 level for the first time since 1990 amid growing expectations of an economic rebound.
Optimism surrounding the roll-out of COVID-19 vaccines in Japan boosted ANA Holdings and Japan Airlines, which climbed 0.8% and 0.85%, respectively.
Chip-related shares fell after the Nasdaq closed lower overnight. Japan’s Nidec fell 2.18%, Renesas Electronics slipped 2.51% and Advantest declined 3.67%.
The stocks that lost the most among the top 30 core Topix names were Hitachi, which fell 3.48%, followed by Mizuho Financial Group, losing 2.24%.
The top percentage losers in the Nikkei index were Mazda Motor, down 6.28%, followed by Hino Motors, losing 5.43%, and Screen Holdings, which fell 5.26%.
There were 38 advancers on the Nikkei index against 181 decliners.—Reuters
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