(Repeats closing report)
* Insurers underperform, Aeon gains on earnings
* Tepco surges after receiving initial safety approval from NRA
By Lisa Twaronite and Ayai Tomisawa
TOKYO, Oct 5 (Reuters) - Japan's Nikkei share average ended little changed on Thursday after hitting a two-year high in the previous session, as investors grew cautious ahead of major economic data such as the U.S. jobs report later this week.
The Nikkei .N225 ended up 1.9 points, or 0.01 percent, at 20,628.56. On Wednesday, the index climbed to as high as 20,689.08, its loftiest level since August 2015.
"After a run-up to such high levels, and ahead of such major data as the U.S. monthly jobs figures, it is not surprising at all that some investors would take profits," said Yutaka Miura, a senior technical analyst at Mizuho Securities.
"But on the other hand, with U.S. shares hitting fresh record highs, there are no compelling reasons to aggressively sell Japanese stocks, either, so the overall market is flat," he said.
On Wednesday, U.S. stocks edged up to extend their run of record closing highs as data on the services sector added to signs of strength in the economy and underpinned earnings prospects. .N
Respondents to Reuters' latest Japanese equities poll were mostly optimistic that the Nikkei will scale a 21-year peak by year-end, boosted by a weaker yen and market expectations that Prime Minister Shinzo Abe will prevail in a snap election he called for Oct. 22. fund flow data showed that foreign investors turned to net buying of Japanese shares in the week through Sept. 30, purchasing a net 953.3 billion yen worth of shares. some were cautious against a backdrop of continuing tensions on the Korean peninsula.
Last Friday, Japanese Defense Minister Itsunori Onodera expressed concerns about more possible provocation from North Korea on Oct. 10, when Japan commences its lower house election campaigns, a date that coincides with one of the North's main anniversaries. day's losers included financial stocks, with Dai-ichi Life Holdings 8750.T falling 1.3 percent. The insurance sub-index .IINSU.T sagged 1 percent.
Tech shares and electric parts makers also languished, with Advantest Corp 6857.T dropping 1.2 percent and Murata Manufacturing Co 6981.T shedding 0.9 percent, while TDK Corp 6762.T declined 0.5 percent.
Bucking the weakness, Aeon Co 8267.T surged 2.1 percent after Japan's largest retailer by sales said it plans further price cuts, as restructuring at its struggling general merchandising stores helped drive first half profits to an 11-year high. Electric Power (Tepco) 9501.T added 0.9 percent after the company received an initial safety approval from Japan's Nuclear Regulation Authority to restart two reactors at the world's biggest nuclear power plant. JPX-Nikkei Index 400 .JPXNK400 shed 0.2 percent to 14,860.37 while the Topix .TOPX ended down 0.1 percent at 1,682.49 .
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.