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Japan's Nikkei falls as heavyweight stocks track European stocks
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Japan's Nikkei falls as heavyweight stocks track European stocks
Jun 19, 2024 10:07 PM

TOKYO, June 20 (Reuters) - Japan's Nikkei share average

fell on Thursday, tracking declines in European stocks in the

previous session, with heavyweight stocks dragging the index

lower.

The Nikkei fell 0.64% to 38,324.1 by the midday

break. The broader Topix lost 0.7% to 2,709.56.

The U.S. market, which typically provides cues to the

Nikkei, was closed on Wednesday for a pulbic holiday.

"There were no clear reasons for the decline, but I guess

the performance of European stocks weighed on sentiment.

Concerns about political uncertainties in France and other

countries might have revived," said Kentaro Hayashi, senior

strategist at Daiwa Securities.

"The next cue to lift Japanese stocks will be when companies

start announcing their first-quarter earnings next month."

Uniqlo-brand owner Fast Retailing ( FRCOF ) lost 1.45% to

drag the Nikkei the most. Chip-equipment maker Tokyo Electron ( TOELF )

fell 0.37% and robot maker Fanuc ( FANUF ) slipped 1.2%.

The Tokyo Stock Exchange's smaller markets rose, with the

standard market rising 0.44% and the growth market

up 0.74%.

The gains came after the Tokyo Stock Exchange said on

Wednesday it would change the make-up of the benchmark Topix,

raising speculation that companies with larger market value in

those markets might be included in the Topix in the future,

strategists said.

Railway operator Keisei Electric Railway ( KELRF ) lost 3.58%

to become the top loser on the Nikkei, followed by heavy

machinery maker Kawasaki Heavy Industries ( KWHIF ), which fell

3.34%.

Isuzu Motors ( ISUZF ) rose 2.41% to become the biggest

gainer on the Nikkei.

Of the 225 Nikkei components, 47 stocks rose and 177 fell,

with one trading flat.

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