AGL 5.95 Decreased By ▼ -0.13 (-2.14%)
ANL 9.26 Decreased By ▼ -0.14 (-1.49%)
AVN 80.82 Decreased By ▼ -0.64 (-0.79%)
BOP 5.20 Decreased By ▼ -0.07 (-1.33%)
CNERGY 4.86 Decreased By ▼ -0.04 (-0.82%)
EFERT 81.82 Increased By ▲ 0.27 (0.33%)
EPCL 53.94 Decreased By ▼ -0.06 (-0.11%)
FCCL 14.29 Decreased By ▼ -0.11 (-0.76%)
FFL 5.93 Decreased By ▼ -0.12 (-1.98%)
FLYNG 7.44 Decreased By ▼ -0.12 (-1.59%)
FNEL 4.95 Decreased By ▼ -0.05 (-1%)
GGGL 9.18 Decreased By ▼ -0.14 (-1.5%)
GGL 16.51 Decreased By ▼ -0.19 (-1.14%)
HUMNL 6.14 Increased By ▲ 0.45 (7.91%)
KEL 2.77 Decreased By ▼ -0.02 (-0.72%)
LOTCHEM 30.81 Increased By ▲ 0.26 (0.85%)
MLCF 27.45 Decreased By ▼ -0.34 (-1.22%)
OGDC 74.27 Increased By ▲ 0.27 (0.36%)
PAEL 15.98 Decreased By ▼ -0.21 (-1.3%)
PIBTL 5.21 Decreased By ▼ -0.02 (-0.38%)
PRL 17.01 Decreased By ▼ -0.28 (-1.62%)
SILK 1.10 Increased By ▲ 0.01 (0.92%)
TELE 10.00 Decreased By ▼ -0.04 (-0.4%)
TPL 7.65 Decreased By ▼ -0.05 (-0.65%)
TPLP 19.41 Decreased By ▼ -0.36 (-1.82%)
TREET 22.72 Decreased By ▼ -0.47 (-2.03%)
TRG 146.80 Decreased By ▼ -0.55 (-0.37%)
UNITY 17.09 Decreased By ▼ -0.10 (-0.58%)
WAVES 10.33 Decreased By ▼ -0.05 (-0.48%)
WTL 1.42 Decreased By ▼ -0.04 (-2.74%)
BR100 4,330 Increased By 3.4 (0.08%)
BR30 16,296 Increased By 46.9 (0.29%)
KSE100 42,904 Increased By 23.3 (0.05%)
KSE30 15,805 Decreased By -4.6 (-0.03%)
Follow us

TOKYO: Japan’s Nikkei ended lower on Friday, after hitting a more than two-month high in the last session, as investors sold heavyweight chip-related and growth stocks that had gained but hopes for slower interest rate hikes globally capped declines.

The Nikkei fell 0.35% to close at 28,283.03 and gained 1.37% for the week. The broader Topix was down 0.04% to 2,018.00 but jumped 2.59% for the week.

“Investors sold shares for profit-taking today. That was seen in chip-related stocks, which were strong in the past few sessions,” said Shuji Hosoi, senior strategist at Daiwa Securities.

“Overall the market was supported by hopes for slower hikes of the ECB, which sent the Germany’s 10-year bond yields lower.”

Investors saw some dovish hints in the minutes from the European Central Bank’s most recent policy meeting, which was published Thursday, even as they showed policymakers’ fears that inflation might be becoming entrenched.

The Nikkei’s jump in the previous session was underpinned by hopes for a slower pace of interest rate hikes by the U.S. Federal Reserve.

Nikkei ends at over 2-month highs on hopes Fed slowdown hopes

In Japan, chip-related Tokyo Electron fell 0.78% after jumping 3.21% in the week, while Advantest slipped 0.96% after posting a 3.56% weekly gain.

Dentsu Group lost 2.74% after a report that Tokyo prosecutors searched the advertising agency and other firms in connection with possible bid-rigging for Tokyo Olympics test events.

Hub Co, which runs British style pubs, surged 12.71%, extending its gain after Japan made a stunning 2-1 upset over four-times champions Germany in their World Cup opener on Wednesday.

The utility sector rose 1.7% to become the top gainer among the 33 industry sub-indexes on the Tokyo bourse, with Tokyo Electric Power climbing 4.6%.

Comments

1000 characters

Nikkei slips; posts weekly jump on hopes of slower Fed rate hikes

'We stand by our promise': Moonis Elahi says will dissolve Punjab assembly on Imran's call

PM Shehbaz urges Turkiye to invest in Pakistan's mega solar project

Ishaq Dar says Pakistani delegation to leave for Russia for potential oil deal

Pakistan secures €150mn in aid from ECO Trade and Development Bank: Marriyum

Saudi Arabia blocks Qatari beIN’s World Cup streaming platform

Lewandowski breaks World Cup duck as Poland beat Saudi Arabia

Nine terrorists killed in gun battle with security forces in Balochistan: ISPR

Ronaldo’s ‘total genius’ won World Cup penalty, says FIFA group

Relations with India, gender equality stressed at ‘talks by engro’ event in IBA

Owned by resident Pakistanis: FBR starts taxing hundreds of foreign properties