Tokyo Stocks Close Flat
Muhammad Irfan Published June 23, 2022 | 12:30 PM
Tokyo, (UrduPoint / Pakistan Point News - 23rd Jun, 2022 ) :Tokyo stocks closed flat on Thursday as investors eyed signs of growing economic activity in Japan after the easing of pandemic restrictions.
The benchmark Nikkei 225 index ended up 0.08 percent, or 21.70 points, at 26,171.25, while the broader Topix index was down 0.05 percent, or 0.91 points, at 1,851.74.
Although the Tokyo market started with gains led by blue-chip exporters, market sentiment "lacked the appetite for further active buying", said Mamiko Katayama, a Daiwa Securities strategist.
"Worries over a potential recession prompted by monetary tightening policies overseas, including in the United States and Europe" weighed on share prices, she said.
However, "expectations that Japanese economic activities will resume further are supporting" some stocks, especially domestic-demand oriented shares.
The Dollar fetched 135.81 yen, against 136.22 Yen in New York on Wednesday.
Toshiba ended up 3.54 percent at 5,696 yen after a report said at least one of the bidders for the company may offer up to 7,000 yen per share.
Toyota was down 1.37 percent at 2,126.5 yen, Sony Group was off 1.10 percent at 11,245 yen and Nintendo fell 0.76 percent to 57,240 yen.
Pharmaceutical company Shionogi dropped 5.57 percent to 6,408 yen after a report said a health ministry expert panel thinks it could take some time to approve its Covid-19 pill.
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