TOKYO, Oct 27 (Reuters) - Japanese shares ended nearly flat on Tuesday, as strong earnings from camera and copy machine maker Canon helped counter weakness in travel and real estate stocks following a lower finish on Wall Street.
The market got support from upbeat earnings reports, with Canon 7751.T jumping over 8% after raising its annual earnings outlook and legal portal service operator Bengo4.com 6027.T reversing course to rise 7.5% on upbeat quarterly results. sentiment, however, was weaker as growing worries over a second wave of infections in the United States and Europe pressured Wall Street overnight. the most, the airline index .IAIRL.T dropped 3.7% as investors focused on the kind of support airlines would get to survive the COVID-19 pandemic.
Japan Airline 9201.T lost 4.27% as the Nikkei business daily reported it was likely to post a record net loss of about 230 billion yen ($2.20 billion) for the fiscal year ending March 2021. It is also reportedly seeking 300 billion yen in funding. peer Star Flyer 9206.T ended 0.9% lower, having lost as much as 7.0% after a report that it may sell new shares to a fund. operators also struggled, with West Japan Railway 9021.T and Central Japan Railway 9022.T falling around 3% each.
The REIT (real estate investment trust) index fell to a three-month low before some bargain-hunting helped it erase losses to finish nearly flat.
Shares of Nidec 6594.T , which have doubled from a low hit in March, dropped 1.8% even as the motor maker lifted its annual earnings estimate.
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