Tokyo’s Nikkei closes up for fourth straight session

Tokyo’s benchmark Nikkei index closed higher for a fourth consecutive session on Thursday though trade remained cautious ahead of US jobs data due later this week.

The Nikkei 225 rose 0.33 percent, or 92.49 points, to 28,543.51, while the broader Topix index edged up 0.14 percent, or 2.78 points, to 1,983.57.

“Corporate results are recovering, which encouraged investors to buy back shares,” said Daiwa Securities chief technical analyst Eiji Kinouchi.

“But today’s gain was limited as investors are cautiously awaiting US payroll figures” due on Friday, Kinouchi told AFP.

Investors are also keeping an eye on Prime Minister Yoshihide Suga’s moves in preparation for general elections due later this year, brokers said.

The dollar fetched 109.95 yen in Asian afternoon trade, against 110.01 yen in New York late Wednesday.

In Tokyo, semiconductor-related shares were among the winners. Chip maker Renesas Electronics jumped 3.83 percent to 1,272 yen with Chip-making equipment manufacturer Tokyo Electron up 1.15 percent at 48,030 yen.

Takeda, which manages sales and distribution of Moderna’s Covid-19 vaccine in Japan, dropped 1.04 percent to 3,689 yen after Moderna said tainted batches sent to Japan were contaminated with stainless steel particles.

The US biotech firm said the contamination was not expected to pose “an undue risk to patient safety”.

JR West nose-dived 13.35 percent to 5,208 yen after the railway company said it wants to raise 278.6 billion yen ($2.5 billion) in share sales at home and abroad.

AFP