TOKYO – Tokyo stocks closed marginally higher today, led by gains in the tech sector with investors also eyeing a US-Japan summit in Washington.
The benchmark Nikkei 225 index rose 0.14%, or 40.68 points, to 29,683.37. Over the week, however, it lost 0.3 percent.
The broader Topix index edged up 0.09 percent, or 1.74 points, to 1,960.87 and rose 0.1% from a week before.
Tech shares gained ground in Tokyo after the tech-rich Nasdaq Composite Index jumped 1.3% in New York.
But investors largely took a wait-and-see attitude ahead of a summit between Japan’s Prime Minister Yoshihide Suga and US President Joe Biden, said Shinichi Yamamoto, a broker at Okasan Securities.
“Many investors were also sidelined, waiting for the corporate results season,” Yamamoto told AFP.
“Trading is expected to be range-bound for now due to a tug of war between profit-taking and bargain-hunting,” he added.
The dollar fetched 108.78 yen in Asian afternoon trade, against 108.72 yen in New York late yesterday.
Semiconductor-linked shares were among winners, with chip-making equipment manufacturer Tokyo Electron up 0.36% at 49,120 yen and chip-testing equipment maker Advantest rising 0.38% to 10,530 yen.
Nintendo advanced 0.30% to 65,050 yen but Sony fell 1.02% to 12,080 yen.
Toshiba dropped 6.02% to 4,600 yen after local media said the Japanese conglomerate was set to reject a buyout offer from a private equity fund. Toshiba denied the reports. – AFP, April 16, 2021
