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Tokyo stocks end mixed amid caution before earnings season

TOKYO
2024-07-23 16:43

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TOKYO, July 23 (Xinhua) -- Tokyo stocks ended mixed Tuesday, as a wait-and-see mood ahead of earnings releases by major companies largely erased earlier gains in tech issues.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 4.61 points, or 0.01 percent, from Monday at 39,594.39, extending its decline to a fifth session.

The broader Topix index, meanwhile, finished 5.86 points, or 0.21 percent, higher at 2,833.39.

Stocks were initially higher, as gains on Wall Street overnight spurred buying of semiconductor-related stocks following recent steep losses, but gains were capped as investors refrained from buying actively before seeing how this earnings season starts, analysts said.

Market watchers here noted that with major firms such as electric motor maker Nidec Corp. and Mitsubishi Motors Corp. set to release earnings later Tuesday, investors grew cautious before they feel able to buy with confidence.
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