Japan stocks take breather after big rally on profit booking

SYDNEY, April 28 (Reuters) - Japanese stocks ended steady on
Tuesday as investors booked profits after sharp gains in the
previous session, while a raft of better-than-expected earnings
results and forecasts supported the major indexes.
The benchmark Nikkei average .N225 slipped 0.1% to close
at 19,771.19, a day after the index posted a hefty gain of 2.7%
and ahead of the Showa Day holiday on Wednesday.
The Nikkei volatility index .JNIV , considered a fear gauge
based on option pricing, dropped as much as 11.3% to a
1-1/2-month low of 30.9, reflecting a decline in market worries.
Ibiden Co Ltd 4062.T soared 15.1% after the electronic
components maker forecast a 37.2% increase in operating profit
for the current business year through March 2021. Renesas Electronics Corp 6723.T jumped 7.7% after the
maker of semiconductors for cars recorded a net profit of 11.3
billion yen ($105 million) for the January-March quarter - a
positive surprise for many analysts. Kyocera Corp 6971.T shed 4.8% as the company forecast a
18.3% fall in net profit for the current business year ending
March, which was below analysts consensus. Miraca Holdings Inc 4544.T advanced 4.4% after the
diagnostics and laboratory testing service provider's subsidiary
Fujirebio applied for government approval for Japan's first
antigen coronavirus testing kits. Shionogi & Co Ltd 4507.T climbed 3.6% following the drug
maker announced a plan to develop a vaccine for the coronavirus,
with an aim to begin clinical trials later this year.
Shares of Sumitomo Mitsui Financial Group (SMBC) 8316.T
and online brokerage SBI Holdings 8473.T were in demand after
the two companies agreed to jointly offer digital banking
services available on smartphones, with SMBC rising 0.5% and SBI
up 4.2%. The broader Topix .TOPX added 0.1% to 1,449.15, with the
volume of shares traded on the main board valued at 2.11
trillion yen ($19.7 billion), below its average over the last 20
days of 2.30 trillion yen.

($1 = 107.1800 yen)