TOKYO, Feb 4 (Reuters) - Japanese shares snapped a three-day
winning streak on Thursday, dragged down by declines in
chip-related companies, although a surge in shares of Sony
6758.T limited some losses.
Sony's shares rose 9.54% to hit its highest level since
September 2000, and were the biggest gainer on the Nikkei share
average .N225 , after the electronics and media giant raised
its full-year profit outlook. Nikkei declined 1.06% at 28,341.95, while the broader Topix
.TOPX dipped 0.32% to 1,865.12.
Chip-related shares led losses, with Advantest 6857.T
falling 3.94%, Sumco 3436.T losing 3.8% and Fanuc 6954.T
declining 3.26%. Tokyo Electron 8035.T fell 2.6%.
"Chip-related shares rose too much before the earnings
season started but now all the good news are out," said
Norihiro Fujito, chief investment strategist at Mitsubishi UFJ
Morgan Stanley Securities.
"Virus-beaten down transport shares are gaining but whether
those shares could maintain the momentum is questionable as the
pandemic is far from over."
Transport stocks continued to rise on Thursday, with Japan
Airlines 9201.T and West Japan Railway 9021.T gaining 1.48%
and 0.71%, respectively.
Brokerages gained the most among the 33 sector sub-indexes
on the Tokyo exchange as Nomura Holdings 8604.T jumped 4.09
after reporting strong earnings. Daiwa Securities Group 8601.T
rose 2.03%.
The sea transport sector jumped 2.96% after Kawasaki Kisen
raised its outlook. The shipping company rose 4.39% and its peer
Nippon Yusen 9101.T gained 4.3%.
Kao 4452.T fell 8.19 after the cosmetics and toiletries
maker reported a 14.9% decline in its annual net profit, making
it the biggest loser on the Nikkei. Z Holdings 4689.T followed
by losing 6.37% and Kikkoman 2801.T was down 6.09%.