TOKYO, Jan. 18 (Reuters) – Japanese stock prices slipped on Monday as investors took profits from recent winners such as semiconductor-related shares following the market’s rapid ascent to three decades earlier. this month.
The Nikkei average fell 0.83% to 28,282.74, slipping further from the 30-year high of 28,979 captured last week. However, it was up 3.06% so far this month. The Topix overall lost 0.49% to 1,847.47.
“The market rally over the past month has been so rapid that many people feel a little overheated here,” said Takeo Kamai, head of execution services at CLSA.
Investors held profits on shares that gathered hopes of huge stimulus costs with the incoming U.S. Biden Administration.
Semi-automaker shares also turned a profit after a Reuters report that the Trump administration informed Huawei suppliers, including chipmaker Intel, that they were revoking some licenses to sell to the company. Chinese and that they plan to reject dozens of other applications to provide telecommunications. tight.
Tokyo Electron fell 1.1% while Advantest lost 1.8% and Screen Holdings lost 0.4%.
Camera maker Nikon fell 6.1% after picking up more than 20% earlier this month.
Department store operators also fell over fears of longer-distance social restrictions as the country struggled to halt COVID-19 emissions.
Isetan Mitsukoshi Holdings lost 5.5% and J. Front Retailing fell 3.9%.
Nidec added to the overall move to gain 4.4% as investors bet on its strength in motors for electric vehicles.
The market showed a quiet response to the collection of Chinese economic data. (Reporting by Hideyuki Sano; Editing by Stephen Coates)