Tokyo stock indexes ended Wednesday’s trading mixed but almost unchanged, stock market data for May 15 showed.
Caution ahead of U.S. inflation data due later in the day erased early morning gains for the technology sector and companies that announced share buyback plans.
Japan’s benchmark Nikkei 225 index rose 29.67 points, or 0.08%, from Tuesday to 38,385.73. The broader Topix index closed 0.07 points lower at 2,730.88.
In the prime stock section of the exchange (Prime), the stocks that led the growth were those of companies that manufacture hand tools, rubber products and electrical appliances. The biggest losers were stocks of oil and coal companies, real estate and land transportation.
Growth leaders: Isetan Mitsukoshi Holdings (+13.57%), Sumitomo Mitsui (+8.77%) and Sony (+8.23%).
Top losers: Nitori Holdings Co Ltd (-16.10%), Casio Computer (-11.74%) and Konica Minolta (-8.99%).
Stocks rose in early trading as stock players took advantage of signs of recovery from Wall Street to snap up shares of semiconductor companies and other technology companies in hopes of growth in the sector after OpenAI and Google LLC launched new models of generative artificial intelligence.
Japanese companies that announced plans to boost shareholder returns on Tuesday, including Sony Group and department store operator Isetan Mitsukoshi Holdings, also attracted buyers, but the market later succumbed to downward pressure as demand rose. caution ahead of key US inflation data.
“If U.S. markets react very negatively to tonight’s CPI data, it will probably affect the Japanese market as well,” said Tomoichiro Kubota, senior market analyst at Matsui Securities Co.
Speculation that the Bank of Japan could tighten its monetary policy also continues to weigh on sentiment, as the move would increase borrowing costs for businesses, Kubota added.
Among the most actively traded stocks in Japan, the lead for the 19th day was occupied by the shares of Nippon Telegraph & Telephone Corp (322.15 million), (214th consecutive trading day among the top five). Second place was occupied by the shares of the country’s main financial group, Mitsubishi UFJ Financial Group, (70.44 million). The e-commerce company Rakuten (65.66 million), (1d) returned to the first position after an absence of 14 days. The fourth line was occupied by shares of Mitsubishi Heavy Industries (49.72 million) (1 pence). The top five trading leaders were closed by the securities of Japan’s largest energy company, Tokyo Electric Power Co (TEPCO) (47.57 million), (61d).
The total trading volume of shares of the Japanese market leaders increased to a handsome amount of 555.5 million.
Source: Rossa Primavera
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