TOKYO: Japan’s Nikkei ended nearly flat on Friday, as dismal results from firms such as Nomura Holdings and Nintendo trimmed earlier gains from upbeat earnings in other sectors and a stronger Wall Street finish.
The Nikkei share average ended just 0.07 percent higher at 20,788.39, after climbing to a peak of 20,929.63, its highest since Dec. 19. For the week, the index dropped 0.1 percent.
“The market was split between a small number of strong gainers and losers,” said Chihiro Ohta, general manager at SMBC Nikko Securities. He added that the market could see similar moves next week as many companies post quarterly earnings.
Murata Manufacturing soared 8.5 percent and was the third-most traded stock by turnover after the electronic components maker posted a 55 percent rise in its operating profit for the April-December period on strong demand for automotive capacitors.
Yoshito Takemura, a director of the company, told a news conference, it had managed to weather the impact from the U.S.-Sino trade dispute.
Nintendo Co stumbled 9.2 percent and was the most traded stock by turnover after it slashed its full-year hardware forecast for the hybrid home-portable Switch console, revising a figure that had been treated with scepticism by investors.
Separately, Nintendo said on Friday is was developing a mobile title with Line Corp in the company’s latest push into mobile gaming, which lifted Line’s shares by 8.9 percent.
Nomura Holdings tumbled 4 percent after the brokerage put its wholesale business under review, as the segment drove it to its heaviest quarterly loss in nearly 10 years.
Zozo Inc, a fashion e-commerce website operator, fell 4.7 percent and was the sixth most traded stock by turnover after the company cut its annual profit outlook and dividend forecast.
The broader Topix shed 0.2 percent to 1,564.63 after hitting its highest level since mid-December. - Reuters
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