AVN 64.76 No Change ▼ 0.00 (0%)
BAFL 31.49 Increased By ▲ 0.31 (0.99%)
BOP 4.79 Decreased By ▼ -0.03 (-0.62%)
CNERGY 3.85 No Change ▼ 0.00 (0%)
DFML 14.48 Increased By ▲ 0.48 (3.43%)
DGKC 41.65 No Change ▼ 0.00 (0%)
EPCL 46.81 Increased By ▲ 0.51 (1.1%)
FCCL 11.33 Decreased By ▼ -0.07 (-0.61%)
FFL 5.06 No Change ▼ 0.00 (0%)
FLYNG 5.82 Increased By ▲ 0.02 (0.34%)
GGL 10.46 Increased By ▲ 0.55 (5.55%)
HUBC 65.54 Increased By ▲ 1.34 (2.09%)
HUMNL 5.61 No Change ▼ 0.00 (0%)
KAPCO 27.73 Decreased By ▼ -0.09 (-0.32%)
KEL 2.16 Increased By ▲ 0.01 (0.47%)
LOTCHEM 24.40 Decreased By ▼ -0.10 (-0.41%)
MLCF 21.51 Decreased By ▼ -0.34 (-1.56%)
NETSOL 84.61 Increased By ▲ 0.31 (0.37%)
OGDC 87.02 Decreased By ▼ -0.09 (-0.1%)
PAEL 11.00 Increased By ▲ 0.05 (0.46%)
PIBTL 4.19 Decreased By ▼ -0.04 (-0.95%)
PPL 75.35 Decreased By ▼ -1.43 (-1.86%)
PRL 13.60 Decreased By ▼ -0.13 (-0.95%)
SILK 0.89 Decreased By ▼ -0.03 (-3.26%)
SNGP 41.27 Decreased By ▼ -0.33 (-0.79%)
TELE 5.84 Decreased By ▼ -0.11 (-1.85%)
TPLP 15.62 Increased By ▲ 0.01 (0.06%)
TRG 111.84 Increased By ▲ 0.59 (0.53%)
UNITY 13.97 Increased By ▲ 0.13 (0.94%)
WTL 1.17 Increased By ▲ 0.03 (2.63%)
BR100 4,064 Increased By 18.2 (0.45%)
BR30 14,468 Increased By 34.8 (0.24%)
KSE100 40,734 Increased By 113.6 (0.28%)
KSE30 15,230 Increased By 59.4 (0.39%)
Follow us

TOKYO: Japan’s Nikkei share average rose on Tuesday but failed to close above the psychological 27,000 mark, as concerns about the upcoming earnings season, a weaker yen and U.S. monetary policy outlook limited gains.

The Nikkei ended 0.69% higher at 26,985.09, after trading sideways around 27,000 in the afternoon session. In the morning, it dipped as low as 26,777.71, briefly entering negative territory, after opening near the day’s high of 27,100.59.

Of the Nikkei’s 225 components, 190 stocks gained, 33 declined and two closed flat.

Chipmakers were the biggest gainers by index points, with Tokyo Electron climbing 2.29% and Advantest up 3.01%, tracking overnight gains in their U.S. peers.

Tokyo stocks end lower on Ukraine war, Covid fears

However, heavyweights Fast Retailing, which operates the Uniqlo clothing chain, and startup investor SoftBank Group suffered losses of 1.72% and 1.88% respectively, dragging down the Nikkei by a combined 61 index points.

The broader Topix rose 0.83% to 1,895.70. Of the 33 Tokyo Stock Exchange sub-sectors, all but four rose.

The Nikkei has spent the last week broadly consolidating just south of 27,000. Earnings season is due to kick off Thursday by machinery maker Nidec Corp, considered a bellwether for the rest of Japan Inc.

The yen’s rapid drop past 128 per dollar to its weakest in about two decades has lent some support to exporters, but it is fuelling worries about inflation and the potential effect on bottom lines.

A crucial rates decision by the U.S. Federal Reserve at the start of next month is also front of mind, with policymakers sounding increasingly hawkish tones of late, and markets braced for a half-point increase.

Amid all that, investors are disposed to take a wait-and-see attitude, said Jun Kitazawa, a strategist at Miki Securities.

“Volatile trading continues, giving little sense of an overall market direction,” he added.

Comments

Comments are closed.

Japan’s Nikkei rises; weaker yen, earnings caution cap below 27,000 mark

PM Shehbaz invites Imran Khan to all parties conference

Dar gives go-ahead to Saylani, other charities to help raise $2bn from overseas Pakistanis

New historic low: rupee settles at 271.36 against US dollar

Country can excel at nuclear power generation: PM Shehbaz

Pakistan expects 'sincere cooperation' from Afghan interim govt to address terrorism: FO

US transfers Pakistani Guantanamo Bay detainee to Belize

At least 17 killed as oil tanker collides with passenger coach near Kohat tunnel

Pakistan’s textile exports significantly decline in January: APTMA

Murad Saeed announces protest against rising terrorism in KP

Local court sends Sheikh Rashid on two-day physical remand