Japanese shares almost flat, Toyota earnings awaited

TOKYO, May 12 (Reuters) - Japan's Nikkei share average
.N225 was little changed on Tuesday as investors weighed hopes
of economic re-openings against concerns about further waves of
coronavirus infections.
Many investors also looked to a barrage of earnings
announcements due later in the day, including those from Toyota
Motor 7203.T , the biggest Japanese company by market cap.
The Nikkei share average .N225 fell 0.02% to 20,387.35
points, a day after it hit a two-month high. It has risen 18.9%
from a trough hit on March 19. The broader Topix .TOPX was
down 0.08% to 1,479.35.
"I think the market is still retaining an uptrend," said
Yuya Fukue, trader at Rheos Capital Works.
"At the same time, I expect the polarisation of the market
to continue. The tech sector will flourish as it is becoming an
important infrastructure for the society."
Semi-conductor related shares were among the best
performers, with Sumco Corp 3436.T rising 4.6% and Advantest
Corp 6857.T gaining 2.3%.
Tokyo Seimitsu 7729.T rose 5.1% on strong earnings.
Square Enix Holdings Co Ltd 9684.T rose 4.8% after the
online entertainment company raised its profit estimate for the
financial year ended March and hiked its dividend.
In contrast, Isetan Mitsukoshi Holdings 3099.T fell 7.5%
after the department store operator posted a loss for the
financial ended March, highlighting the damage wreaked by the
coronavirus on traditional retailers.
Other cyclical shares were badly hit.
Kawasaki Kisen 9107.T fell 5.5% even as the shipping
company managed to post a net profit in its financial year ended
March on structural reforms.
Bridgestone 5108.T slipped 4.1% after the tyre maker
posted a 65% fall in net profit for the January-March period,
compared with a year earlier, and withdrew its annual forecast.
Toyota shares dipped 0.6%. More earnings announcements are
expected later in the day, including Honda Motor 7267.T , Kirin
Holdings 2503.T and Mitsui Fudosan 8801.T .