TOKYO, Feb 24 (Reuters) - Japanese shares fell on Wednesday as investors booked profits in chip-related shares following a decline in the Nasdaq index , while the pandemic-driven stocks shined on hopes for normalization in the economy.
"Unstable moves of the U.S. market overnight has made investors in Japan get worried about the outlook," said Koichi Kurose, chief strategist at Resona Asset Management.
"Investors are rotating their targets now because of the rollouts of vaccines, which makes the virus-hit shares attractive."
On the other hand, shares of department store operators jumped. J.Front Retailing 3086.T , up 5.85%, was the biggest gainer in the Nikkei, followed by Isetan Mitsukoshi Holdings 3099.T , which rose 5.74%, and Takashimaya 8233.T that gained 5.7%.
Governors of Osaka and other main western cities have requested early lifting of a state of emergency as Japan's COVID-19 cases began falling, according to local media reports.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.