Tokyo Shares End Flat

Tokyo, (APP - UrduPoint / Pakistan Point News - 26th Mar, 2024) Tokyo stocks ended flat on Tuesday as investors held out hope for gains in semiconductor-related shares while locking in profits after recent rallies.

The benchmark Nikkei 225 index trimmed earlier losses and inched down 0.04 percent, or 16.09 points, to 40,398.03 at the close, while the broader Topix index added 0.11 percent, or 3.16 points, to 2,780.80.

"Tokyo shares couldn't find a sense of direction as it hovered around the previous day's close," Daiwa Securities said.

"Investors' wait-and-see stance became pronounced as they observed various comments from officials (warning about the yen's depreciation), Easter and the US personal consumption expenditures price index," the brokerage said.

The Tokyo market faced selling pressure after overnight falls on Wall Street while investors settled accounts before the Japanese fiscal year will close this week.

Still, others bought shares to secure the rights to year-end dividends.

Semiconductor issues firmed, driven largely by gains in US giant Nvidia shares, although investors were still looking for fresh news, analysts said.

The Dollar stood at 151.36 yen, slightly down from 151.42 Yen in New York.

Among major shares, Sony Group added 0.46 percent to 13,110 yen and Toyota rose 0.52 percent to 3,850 yen.

Semiconductor shares also rose. Tokyo Electron added 0.54 percent to 38,930 yen and Advantest firmed 0.34 percent to 6,754 yen.

Uniqlo operator Fast Retailing fell 1.63 percent to 46,360 yen.

Nissan dropped 3.94 percent to 604.1 yen after the automaker announced a new business plan aimed at increasing sales volumes while lowering costs.

Kobayashi Pharmaceutical ended up 0.26 percent at 5,069 yen, as it investigates reported health issues among customers who took its supplements.

It is still well down on Friday's closing price of 6,056 yen.