Tokyo Stocks Close Flat

Tokyo, June 9 (UrduPoint / Pakistan Point News - 9th Jun, 2022 ) :Tokyo stocks ended flat on Thursday as gains in export-related shares driven by a cheaper Yen helped offset pressure from falls on Wall Street.

The benchmark Nikkei 225 index ended up 0.04 percent, or 12.24 points, at 28,246.53, while the broader Topix index was down 0.05 percent, or 0.93 points, at 1,969.05.

Wall Street shares fell on lingering worries about inflation while US yields trended higher.

But the yen's weakness against major currencies continued to provide solid support for Japanese exporters, analysts said.

The Dollar stood at 133.75 yen, around a 20-year high and down from 134.29 yen overnight in New York but still higher than 133.

03 yen in Tokyo on Wednesday.

"Purchases of export-reliant companies, on the backdrop of the depreciation of the yen, supported the market," said Daiwa Securities strategist Mamiko Katayama.

Oil explorer Inpex climbed 3.26 percent to 1,807 yen and distributor Eneos gained 1.35 percent to 578.6 yen.

The shipping sector was among the losers, with Mitsui O.S.K. lines sinking 7.74 percent to 3,220 yen and Nippon Yusen ending down 6.99 percent at 9,850 yen.

Among others, Toyota added 0.40 percent to 2,239 yen, SoftBank Group rallied 1.73 percent to 5,659 yen, and Nintendo rose 1.61 percent to 59,900 yen.