TOKYO, April 28 (Reuters) - Japanese shares closed slightly higher on Wednesday, led by technology stocks, but concerns about corporate outlook capped gains even as investors awaited a decision by the U.S. Federal Reserve.
"There is a growing concern among investors that corporate outlook may not meet their high expectations. That has been proven by recent fall in shares of some renowned companies which flagged strong outlook," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
"It is hard for investors to make any move today ahead of several significant events in Japan and the United States."
Japan is in the middle of the corporate earnings season, with Sony Group 6758.T , Shin-Etsu Chemical 4063.T and TDK 6762.T among major firms reporting their outlook after the market closes on Wednesday.
So far, a slew of companies, including Nidec 6594.T and Canon 7751.T , have failed to impress investors despite relatively strong earnings. firms such as robot maker Fanuc 6954.T rose 2.03%, while air conditioner maker Daikin Industries 6367.T gained 2.82%.
Nomura Holdings 8604.T rose 1.54% after Japan's largest brokerage said it would book a $2.9 billion loss from the collapse of U.S. investment fund Archegos. sent securities firms .ISECU.T 1.82% higher, making it the top gainer among the Tokyo Stock Exchange's 33 industry subindexes.
Kansai Electric Power 9503.T rose 2.35% after the utility got the greenlight from local authorities to restart three reactors. stocks that gained the most among the top 30 core Topix names were Sony Group, gaining 3.14 %, followed by Daikin Industries.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.