Nikkei edges higher on tech rally but Nintendo, sauce makers cap gains

  • 12/22/2021
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2 minute read TOKYO, Dec 22 (Reuters) - Japan"s Nikkei share average edged higher on Wednesday, buoyed by a rally in chipmakers and other tech stocks, although gains were capped by weakness in Nintendo and sauce makers. The Nikkei 225 (.N225) ended the day 0.16% higher after swinging between small gains and losses throughout the session in holiday-thinned trading. The broader Topix (.TOPX) added 0.09%. "The main players, foreign institutional investors, are out of the market for Christmas, and the action by individual investors is thin," said a market participant at a domestic securities firm. "For the next while, it looks like it"s going to be hard to find direction in this market." Sony (6758.T) was among the Nikkei"s top gainers, climbing 2.77% after its India unit finalised a deal with local rival Zee Entertainment to merge their television channels, film assets and streaming platforms. read more Tokyo Electron (8035.T) was the biggest mover by index points, adding 0.74%, while fellow chipmaker Advantest advanced 1.41%. Overnight, the U.S. Nasdaq 100 (.NDX) rallied 2.29%, and the Philadelphia SE Semiconductor index (.SOX) jumped 3.35%. The Nikkei"s biggest mover was Shinsei Bank (8303.T) with a 5.94% gain after SBI Holdings, which recently completed a tender offer for Shinsei, said it"s worth pursuing the option of taking it private. read more At the other end, sauce maker Ajinomoto (2802.T) slumped 2.13% to be the Nikkei"s worst performing stock, while peer Kikkoman (2801.T) lost 1.38%. Nintendo (7974.T) declined 1.66%. Toyota Motor (7203.T) cut losses into the close, but still ended 0.68% lower as it fell further after last week"s strong gains on beefed-up electric vehicle plans. Group supplier Denso (6902.T) slipped 0.87%.

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