Tokyo, Nov 25, 2022 (AFP)
Tokyo stocks drifted lower on Friday as investors awaited fresh market-moving news with Wall Street closed for the Thanksgiving break.
The benchmark Nikkei 225 index dropped 0.35 percent, or 100.06 points, to 28,283.03, while the broader Topix index barely moved, losing 0.04 percent, or 0.80 points, to 2,018.00.
The dollar stood at 138.63 yen, little changed from 138.39 yen in London.
Japanese shares were vulnerable to profit-taking following recent gains, but also benefited from broad support after some European markets advanced overnight.
Investors remained focused on the speed and scale of US rate hikes, while rising Covid-19 cases in China also posed nagging worries.
"Market sentiment was affected by the spread of the coronavirus in China," Daiwa Securities said.
The situation is "a real test for Chinese leaders", added Rodrigo Catril of National Australia Bank, noting that "widespread restrictions are increasingly paralysing economic activities".
Still, shares related to tourism were buoyant, with Japan promoting the sector with subsidies and campaigns, Daiwa Securities said.
Leading railway firm East Japan Railway added 0.52 percent to 7,778 yen. Central Japan Railway, which operates the nation's main bullet train service, rose 1.12 percent to 16,645 yen.
Advertising giant Dentsu fell 2.74 percent to 4,430 yen after prosecutors raided the firm, reportedly in connection with a bid-rigging allegation related to the Tokyo Olympics.
SoftBank Group added 0.25 percent to 6,079 yen. Energy developer Inpex rose 1.82 percent to 1,564 yen.
Tyremaker Bridgestone lost 1.76 percent to 5,232 yen. Industrial robot maker Fanuc fell 1.28 percent to 20,480 yen.
hih/kaf/qan
Sumber : AFP
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