Tokyo stock indices ended trading lower on Monday, stock market data for May 13 showed.
Market players largely remained in a wait-and-see attitude today ahead of the release of earnings reports from major Japanese companies as well as the release of key US inflation data at the end of this week.
Japan’s benchmark Nikkei 225 index fell 49.65 points, or 0.13%, from Friday to settle at 38,179.46. The broader Topix index closed down 4.13 points (0.15%) at 2,724.08.
In the stock market section of first-tier shares (Prime), the leaders of the fall were the values of real estate, construction, agricultural and fishing companies.
Top losers: Shimizu Corp (-8.90%), Taisei Corp (-8.12%) and Secom (-7.87%).
Growth leaders: Olympus Corp (+9.65%), Toray Industries (+8.67%) and Minebea Mitsumi (+5.91%).
Trading in the stock market remained slow throughout the day.
“There are quite a few companies whose prospects, according to investors, will not meet market expectations. So there is definitely a sense of caution regarding earnings,” said Yutaka Miura, senior technical analyst at Mizuho Securities Co.
The market has also been affected by rising long-term interest rates in Japan, as higher bond yields raise borrowing costs for companies, Miura added.
Bucking the downtrend, Nikkei heavyweight Softbank Group attracted buying and then announced its fiscal 2023 results on the same day, driven by high expectations for its expansion into AI semiconductors, analysts said. analysts.
Among the most actively traded stocks in Japan, the lead for the 17th day was occupied by shares of Nippon Telegraph & Telephone Corp (318.64 million), (212th consecutive trading day in the top five). Second place, for the first time since March 13, was occupied by the shares of the country’s main financial group, Mitsubishi UFJ Financial Group, (64.36 million). The third position was occupied by the securities of Japan’s largest energy company, Tokyo Electric Power Co (TEPCO) (50.93 million), (59 pence). Shares of automaker Nissan Motor (32.67 million), (2d) fell to fourth place. The top five business leaders were closed by Mitsubishi Heavy Industries (31.14 million) (6d).
Thus, the composition of the top has not changed since Friday, but the total trading volume of shares of the leaders of the Japanese market decreased, amounting to 497.74 million.
Source: Rossa Primavera
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