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<Asia> Nikkei Falls 299 pts or 0.5% at Midday; Some Tech Shares Retreat, Financials and Heavy Industries Advance
Japanese equities were softer in the morning session as investors took profits after the market hit a record high yesterday (27th). The Nikkei 225 opened down 5 points, briefly ros...
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<Asia> Nikkei Falls 299 pts or 0.5% at Midday; Some Tech Shares Retreat, Financials and Heavy Industries Advance
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Japanese equities were softer in the morning session as investors took profits after the market hit a record high yesterday (27th). The Nikkei 225 opened down 5 points, briefly rose 97 points to 60,634 in early trading, then turned lower. At midday, it fell 299 points, or 0.5%, to 60,238.

Among technology shares, SoftBank (9984.JP) dropped 7.3%, Advantest (6857.JP) fell 3.7%, while Kioxia (285A.JP) gained 4.1%. Lasertec (6920.JP) and Tokyo Electron (8035.JP) declined 1.9% and 2.5%, respectively, while Disco (6146.JP) rose 1.5%. Cable makers Furukawa Electric (5801.JP) and Fujikura (5803.JP) slipped 0.8% and 2%.

Financial stocks advanced, with Mitsubishi UFJ Financial (8306.JP), Sumitomo Mitsui Financial (8316.JP) and Mizuho Financial (8411.JP) rising between 2.2% and 2.6%. Dai-ichi Life (8750.JP) and Tokio Marine (8766.JP) gained 1.9% and 1.8%. Trading houses Marubeni (8002.JP) and Mitsui & Co. (8031.JP) climbed 3% and 2.7%.

Amid reports that the US and Japan will expand cooperation between companies in dual-use military and civilian technologies, heavy machinery makers advanced. Mitsubishi Heavy Industries (7011.JP) rose 1.9%, while Kawasaki Heavy Industries (7012.JP) and IHI (7013.JP) gained 3.7% and 3%, respectively. In the metals sector, JX Metals (5016.JP) fell 2.3%, while Sumitomo Metal Mining (5713.JP) and Mitsui Mining & Smelting (5706.JP) rose 2.4% and 5.8%. Oil producer Inpex (1605.JP) advanced 3.9%.

Among other stocks, Fast Retailing (9983.JP) added 1.3%, Nissan (7201.JP) climbed 4.3%, Hitachi (6501.JP) fell 4.9%, Ryohin Keikaku (7453.JP) rose 3.1%, and Tokyo Electric Power (9501.JP) gained 1.9%. Industrial automation equipment maker Keyence (6861.JP) advanced 2.6% after previously reporting strong results and announcing a share buyback.

The USD/JPY was quoted at 159.48. (fc/u)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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