ANL 31.05 Decreased By ▼ -0.76 (-2.39%)
ASC 19.01 Decreased By ▼ -0.18 (-0.94%)
ASL 27.35 Decreased By ▼ -0.75 (-2.67%)
AVN 91.39 Increased By ▲ 0.69 (0.76%)
BOP 8.38 Decreased By ▼ -0.12 (-1.41%)
BYCO 13.03 Increased By ▲ 0.20 (1.56%)
DGKC 130.75 Increased By ▲ 2.15 (1.67%)
EPCL 49.44 Increased By ▲ 1.64 (3.43%)
FCCL 24.40 Increased By ▲ 0.03 (0.12%)
FFBL 26.95 Increased By ▲ 0.35 (1.32%)
FFL 17.49 Decreased By ▼ -0.36 (-2.02%)
HASCOL 11.90 Increased By ▲ 0.15 (1.28%)
HUBC 81.00 Increased By ▲ 2.49 (3.17%)
HUMNL 8.49 Decreased By ▼ -0.19 (-2.19%)
JSCL 24.30 Decreased By ▼ -0.30 (-1.22%)
KAPCO 43.63 Decreased By ▼ -0.38 (-0.86%)
KEL 4.70 Increased By ▲ 0.48 (11.37%)
LOTCHEM 16.20 Increased By ▲ 0.35 (2.21%)
MLCF 49.32 Increased By ▲ 0.42 (0.86%)
PAEL 36.20 Decreased By ▼ -0.55 (-1.5%)
PIBTL 11.39 Decreased By ▼ -0.01 (-0.09%)
POWER 10.54 Decreased By ▼ -0.05 (-0.47%)
PPL 92.40 Decreased By ▼ -2.10 (-2.22%)
PRL 26.70 Decreased By ▼ -0.69 (-2.52%)
PTC 12.90 Decreased By ▼ -0.52 (-3.87%)
SILK 1.61 Decreased By ▼ -0.01 (-0.62%)
SNGP 49.35 Decreased By ▼ -1.13 (-2.24%)
TRG 165.90 Increased By ▲ 3.40 (2.09%)
UNITY 48.30 Decreased By ▼ -0.15 (-0.31%)
WTL 3.99 Decreased By ▼ -0.24 (-5.67%)
BR100 5,333 Increased By ▲ 1.35 (0.03%)
BR30 27,937 Increased By ▲ 164.91 (0.59%)
KSE100 48,633 Decreased By ▼ -93.52 (-0.19%)
KSE30 19,625 Decreased By ▼ -22.41 (-0.11%)
Markets

Japanese shares end lower as cyclical stocks drag; Toshiba slips

  • Banks and property firms declined the most among the 33 industry sub-indexes.
11 Jun 2021

TOKYO: Japanese shares ended marginally lower on Friday as losses in cyclical stocks, as well as banks and property firms, offset gains in heavyweight technical firms.

The Nikkei share average closed 0.03% down at 28,948.73, while the broader Topix slipped 0.14% to 1,954.02. For the week, the Nikkei traded in a narrow range, posting a marginal gain of 0.02%.

Toshiba Corp shed 1.59% after an explosive investigation released on Thursday found the company and the government colluded to lean on foreign investors to fall in line with management's wishes.

"Japan's technology stocks are bought as the Nasdaq's gain and the fall in US interest rates lifted investor sentiment," said Jun Morita, general manager of the research department at Chibagin Asset Management.

"But the market was weighed down by uncertainties. It's hard for investors to decide to sell or buy when the Nikkei hovers around the 29,000-level as they are not necessarily optimistic about the Japanese market outlook."

Some market participants doubt Japan's economy will recover as quickly as that of the United States and other advanced nations, as the country grapples with a fourth wave of the pandemic.

Staffing agency Recruit Holdings fell 2.53%, the biggest drag on the Nikkei, while machinery makers Kubota and Komatsu lost 4.49% and 3.24%, respectively.

Banks and property firms declined the most among the 33 industry sub-indexes.

Technology firms advanced, with a medical platform M3 Inc rising 3.12%, Advantest gaining 0.61% and Tokyo Electron rising 0.65%.

Drugmaker Eisai jumped 7.0% after a sharp fall in the previous session amid a volatile trade this week following US regulators' approval of a drug developed by the firm and Biogen for Alzheimer's disease.