AGL 37.85 Decreased By ▼ -0.09 (-0.24%)
AIRLINK 160.49 Increased By ▲ 5.27 (3.4%)
BOP 8.95 Decreased By ▼ -0.12 (-1.32%)
CNERGY 6.85 Increased By ▲ 0.13 (1.93%)
DCL 10.10 Increased By ▲ 0.57 (5.98%)
DFML 40.30 Decreased By ▼ -0.01 (-0.02%)
DGKC 92.30 Decreased By ▼ -0.65 (-0.7%)
FCCL 38.10 Decreased By ▼ -0.28 (-0.73%)
FFBL 78.45 Decreased By ▼ -0.13 (-0.17%)
FFL 13.50 Decreased By ▼ -0.10 (-0.74%)
HUBC 113.90 Increased By ▲ 3.71 (3.37%)
HUMNL 14.64 Decreased By ▼ -0.25 (-1.68%)
KEL 5.63 Decreased By ▼ -0.10 (-1.75%)
KOSM 8.25 Decreased By ▼ -0.22 (-2.6%)
MLCF 44.78 Decreased By ▼ -0.88 (-1.93%)
NBP 74.98 Decreased By ▼ -1.19 (-1.56%)
OGDC 192.00 Increased By ▲ 0.13 (0.07%)
PAEL 31.65 Increased By ▲ 1.17 (3.84%)
PIBTL 8.68 Increased By ▲ 0.52 (6.37%)
PPL 166.75 Increased By ▲ 0.19 (0.11%)
PRL 31.25 Increased By ▲ 1.81 (6.15%)
PTC 22.08 Increased By ▲ 2.01 (10.01%)
SEARL 98.30 Increased By ▲ 1.68 (1.74%)
TELE 8.51 Increased By ▲ 0.24 (2.9%)
TOMCL 34.80 Increased By ▲ 0.54 (1.58%)
TPLP 11.12 Increased By ▲ 0.90 (8.81%)
TREET 18.52 Increased By ▲ 0.86 (4.87%)
TRG 60.90 Decreased By ▼ -0.35 (-0.57%)
UNITY 32.00 Increased By ▲ 0.03 (0.09%)
WTL 1.53 Increased By ▲ 0.06 (4.08%)
BR100 11,249 Increased By 33.2 (0.3%)
BR30 33,968 Increased By 317.6 (0.94%)
KSE100 104,886 Increased By 326.8 (0.31%)
KSE30 32,448 Increased By 82.5 (0.26%)

TOKYO: Japanese shares inched lower on Tuesday as a slew of corporate earnings failed to meet investors’ high expectations for strong profit recovery and as the country struggles with containing the COVID-19 pandemic.

The Nikkei share average fell 0.46% to 28,991.89, while the broader Topix shed 0.76% to 1,903.55. The market did not react to the Bank of Japan’s widely-expected decision of keeping policy unchanged.

Earnings have proved to be a drag on the market after the Nikkei had rallied to a three-decade high earlier this year on hopes of economic normalisation in the financial year that began in April.

Dai-ichi Sankyo fell 3.5% after the drugmaker gave a lower-than-expected forecast for the current year to March, while Hulic lost 4.4% after the property developer missed expectations.

Bucking the trend, NEC Networks & Systems gained 4.8% on upbeat earnings.

Renewable energy firm Tess Holdings jumped 18.7% in its debut and closed 21.3% above the IPO price, becoming the third most actively traded stock on the entire exchange.

Even companies with relatively strong earnings and positive surprises were not spared from sell-off, with camera and medical equipment maker Canon failing to keep earlier gains.

Comments

Comments are closed.