Tokyo stock indices ended Tuesday’s trading in mixed directions, stock market data for March 5 shows.
Stock traders took profits after the Nikkei index surpassed 40,000 points for the first time yesterday, and purchases of undervalued chip-related stocks helped limit the market’s decline.
The Japanese benchmark Nikkei 225 index fell for the first time in three trading days, falling 11.60 points (0.03%) to 40,097.63, remaining in the 40,000 area. The broader Topix index rose 13.65 points, or 0.50%, to close at 2,719.93 and again set a new 34-year high.
In the stock market section of first-tier shares (Prime), the leaders in decline were the values of companies in the service sector and maritime transport, but among those that led the growth were the shares of construction companies and brokerage houses.
Growth leaders: Obayashi Corp (+20.59%) (!), Taisei Corp (+8.81%) and Kajima Corp (+6.49%).
The leaders of the decline: falling for the second day among the top three are DeNA Co (-4.60%), Takara Holdings Inc (-3.85%) and M3 Inc (-3.58%).
The Nikkei index briefly fell more than 200 points in the morning as some investors sold semiconductor stocks that had been snapped up in the recent rally, brokers said.
But the index recovered some of its losses in the afternoon as shares of Tokyo Electron and other chipmakers attracted buyers’ attention and automakers gained ground thanks to a weak yen.
Among the most traded shares in Japan, the leadership for the third day is occupied by the shares of Nippon Telegraph & Telephone Corp (139.33 million), (167th trading day in the ranking). Second place, also for the third trading session, is reserved for the shares of the usual leader: the country’s largest financial group, Mitsubishi UFJ Financial Group (84.96 million). The shares of Japan’s largest energy company, Tokyo Electric Power Co (TEPCO) (47.03 million), (15d), returned to third position. The fourth line was occupied by the shares of the information technology company LY Corp (40.12 million), which during the last 16 trading sessions was not among the first. The top five trading leaders were closed by shares of the chemical company Sumitomo Chemical (34.47 million) (1 pence).
The total trading volume of shares of the Japanese market leaders decreased for the third day in a row to 345.91 million, a figure that still exceeds the average daily level of February (336.1 million).
Source: Rossa Primavera
I am Michael Melvin, an experienced news writer with a passion for uncovering stories and bringing them to the public. I have been working in the news industry for over five years now, and my work has been published on multiple websites. As an author at 24 News Reporters, I cover world section of current events stories that are both informative and captivating to read.