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. declined 1.06% at 28,341.95, while the broader Topix .TOPX dipped 0.32% to 1,865.12.
"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 (NYSE: MS ) 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."
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%.
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.