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Tokyo’s Nikkei index ends flat as investors seek fresh clues
TOKYO, Feb 1, 2019 (BSS/AFP) – Tokyo’s benchmark Nikkei index ended flat
on Friday as investors sought fresh trading clues and watched individual
corporate earnings reports.
The Nikkei 225 index closed up just 0.07 percent or 14.90 points at
20,788.39, while the broader Topix index was down 0.18 percent or 2.86 points
at 1,564.63.
The twin indexes were trading in positive territory in early trade but
lost steam later, with some analysts also pointing to a negative impact from
a weak Chinese manufacturing data released during Tokyo trading time.
“Following rallies on Thursday after the US Fed signalled a dovish view on
rate hikes, investors are seeking fresh clues,” Hiroaki Hiwata, strategist at
Toyo Securities, told AFP.
“Having said that, it is increasingly difficult for investors to buy as
the Nikkei index is approaching the 21,000 mark” which is considered
psychologically important, he said.
Investors are watching individual shares as company earnings are being
released, he also added.
The dollar fetched 108.86 yen in Asian trade, against 108.88 yen in New
York late Thursday.
In Tokyo, high-tech shares were higher, with Sharp surging 10.32 percent
to 1,272 yen while Murata Mfg advancing 8.46 percent to 16,725 yen after it
said its net profit for the nine months to December jumped nearly 40 percent.
Fanuc gained 1.98 percent to 18,725 yen despite the industrial robot
manufacturer revising down its full-year earnings forecasts.
Brokerage giant Nomura closed down 4.02 percent at 4,241 yen after it
posted a net loss for the nine months to December.
Nintendo dived 9.19 percent to 30,720 yen despite its net profit jumping
nearly a quarter for the nine months to December.
The game giant lowered its Switch game console sales forecast for full
year to 17 million units from 20 million units and pushed back the release
date of Mario Kart smartphone game.
BSS/AFP/HR/1405