TOKYO, March 25 (Reuters) - Japan's Topix was set to snap a three-day losing streak on Thursday, as investors scooped up beaten-down cyclical stocks, although gains were capped by chip-related shares that tracked the Nasdaq lower.
"There were a lot of pessimistic news that prompted investors to sell cyclical shares (yesterday). They are buying back those today," Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
Toyota Motor 7203.T edged up 0.43% after the automaker revived a partnership with Isuzu Motor 7202.T to boost their competitive edge in connected, commercial vehicles, with Toyota's truck unit Hino Motors Ltd 7205.T joining in the pact. fell 1.01%, while Hino slumped 6.59% following a surge on the news on Wednesday, making it the biggest loser on the Nikkei index.
Tech investor SoftBank Group 9984.T fell 3.14%.
All but three of the 33 sector sub-indexes on the Tokyo exchange traded higher, with highly cyclical material sectors being among the top gainers on the main bourse.
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