Japan's Nikkei reverses early losses on tech recovery; energy shares rally

By Kevin Buckland

TOKYO, June 6 (Reuters) - Japan's Nikkei share average eked out small gains erasing earlier losses on Monday, helped by a turn up in U.S. stock futures and a rise in Chinese equities, while energy stocks rallied on higher oil prices.

The Nikkei share average .N225 rose 0.30% to 27,844.26 by the midday break, after starting the session down at 27,523.95 on tech-led losses on Wall Street from the end of last week.

Tech was still Nikkei's worst performing sub sector, down 0.27%, but stocks including chipmaking equipment giant Tokyo Electron 8035.T swung to a 1.15% gain by the break.

Energy was by far the best performing sub sector, soaring 2.54%, with Idemitsu Kosan 5019.T and ENEOS 5020.T gaining 3.47% and 3.23%, respectively.

The broader Topix .TOPX added 0.1%.

U.S. Nasdaq futures NQc1 gained 0.65% on Monday, after the index .NDX lost 2.67% on Friday as a strong U.S. jobs report raised fears of very aggressive Federal Reserve policy tightening. S&P 500 futures EXcv1 signalled a 0.48% rebound, following a 1.63% slide for the stock benchmark. .SPX

Other notable gainers on the Nikkei included Uniqlo store operator Fast Retailing 9983.T , rising 1.47%, and Nintendo 7974.T advancing 0.73%.

Travel stocks got a boost from expectations for a restart to the government's GoTo Travel campaign, with airline ANA Holdings 9202.T rising 2.66% and travel agent H.I.S. 9603.T up 2.15%.
Editing by Rashmi Aich

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.