TOKYO, Feb 18 (Reuters) - Japan's benchmark Nikkei share
average inched lower on Thursday as investors tuned cautions
about the sustainability of a recent rally above the 30,000
level, though sharp gains in Uniqlo operator Fast Retailing
limited the decline.
The Nikkei 225 index .N225 settled down 0.19% at
30,236.09, reversing earlier gain, while the broader Topix
.TOPX fell 1% to 1,941.91.
Earlier this week, the Nikkei reclaimed the 30,000 level for
the first time since 1990 amid growing expectations of an
economic rebound.
"Investors want to evaluate whether Nikkei's rally to the
psychologically important 30,000 mark reflects the real market,"
said Soichiro Matsumoto, chief investment officer Japan at
Credit Suisse Private Banking.
"They are trying to see if the market maintains the momentum
toward the end of the fiscal year in March and beyond."
Apparel maker Fast Retailing 9983.T jumped 4.58%, making
it the biggest contributor to the Nikkei, followed by Chugai
Pharmaceutical 4519.T , which rose 2.17%.
Optimism surrounding the roll-out of COVID-19 vaccines in
Japan boosted ANA Holdings 9202.T and Japan Airlines 9201.T ,
which climbed 0.8% and 0.85%, respectively.
Chip-related shares fell after the Nasdaq .IXIC closed
lower overnight. Japan's Nidec 6594.T fell 2.18%, Renesas
Electronics 6723.T slipped 2.51% and Advantest 6857.T
declined 3.67%.
The stocks that lost the most among the top 30 core Topix
names were Hitachi 6501.T , which fell 3.48%, followed by
Mizuho Financial Group 8411.T , losing 2.24%.
The top percentage losers in the Nikkei index were Mazda
Motor 7261.T , down 6.28%, followed by Hino Motors 7205.T ,
losing 5.43%, and Screen Holdings 7735.T , which fell 5.26%.
There were 38 advancers on the Nikkei index against 181
decliners.
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Japanese shares slip on market outlook caution, Fast Retailing shines
Published 18/02/2021, 07:57
Updated 18/02/2021, 08:00
Japanese shares slip on market outlook caution, Fast Retailing shines
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