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Tokyo: Nikkei closes higher, driven by tech shares

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Tokyo's benchmark Nikkei index closed marginally higher on Friday led by high-tech shares, but worries over a second wave of coronavirus infections weighed on buying sentiment.

[TOKYO] Tokyo's benchmark Nikkei index closed marginally higher on Friday led by high-tech shares, but worries over a second wave of coronavirus infections weighed on buying sentiment.

The Nikkei 225 index rose 0.55 per cent or 123.33 points to 22,478.79, gaining 0.78 per cent from a week earlier.

The broader Topix index edged down 0.02 per cent or 0.29 points to 1,582.80. Over the week, it advanced 0.77 per cent.

Japanese shares were supported by gains in the tech-rich Nasdaq in the US market, while investors bought on dips following recent declines, brokers said.

"But concerns over a second wave of infections prevented investors from buying further," said Yoshihiro Okumura, general manager at Chibagin Asset Management.

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"Investors are carefully watching developments related to a second wave as a major risk factor," Mr Okumura told AFP.

The dollar fetched 106.81 yen in Asian afternoon trade, against 106.99 yen in New York late Thursday.

In Tokyo, chip-related shares were higher, with chip-making equipment manufacturer Tokyo Electron rallying 7.13 yen to 24,860 yen (S$324) and chip-testing equipment maker Advantest up 2.53 per cent at 6,060 yen.

Uniqlo operator Fast Retailing gained 1.91 per cent to 62,950 yen after it started selling washable and fast-drying face masks on Friday.

Nintendo gained 0.81 per cent to 50,520 yen but Sony was down 0.69 per cent at 7,612 yen with Toyota off 0.52 per cent at 6,851 yen.

Japan's core consumer prices dropped 0.2 per cent year-on-year in May, logging the second straight monthly decline, according to data released by the internal affairs ministry before the opening bell.

Transportation and education-related prices dropped sharply, reflecting stay-home requests made with a state of emergency declaration that was lifted in late May.

AFP

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