TOKYO: Japan’s Nikkei share average erased early losses to end higher on Thursday, as investors bought back stocks on dips, with chip-related shares leading the gains.
The Nikkei ended 0.16% higher at 38,633.02, after falling as much as 0.8% earlier to track declines in European stocks in the previous session.
The broader Topix edged down 0.11% to 2,725.54.
“There were hardly any cues for the market today. Investors bought back stocks when shares were down, and sold when stocks were up, and at the end of the session, the buying exceeded the selling,” said Naoki Fujiwara, senior fund manager at Shinkin Asset Management.
While the market struggles to find clues for trading in recent sessions, the next cue to lift Japanese stocks will be when companies start announcing their first-quarter earnings next month, said Kentaro Hayashi, senior strategist at Daiwa Securities.
Chip-equipment maker Tokyo Electron gave up early losses to end 0.46% higher. Chip-testing equipment maker Advantest jumped 3.73% to become the top gainer on the Nikkei.
Uniqlo-brand owner Fast Retailing lost 0.38% and robot maker Fanuc slipped 0.85%.
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