Japan’s Nikkei closed flat after a wave of profit taking

On Monday, November 13, the Japanese Nikkei index gave up its gains during the session to close without significant change, with investors resorting to selling to take profits with the index reaching near the level of 33 thousand points, while the shares of Shiseido Cosmetics Company fell strongly after it reduced its expectations for annual profits. .

The Nikkei recorded only a slight increase at the close of 0.05 percent at 32,585.11 points after achieving a rise of 1 percent earlier in the session, following a strong performance at the close on Wall Street at the end of last week’s trading, and the broader Topix index also stabilized. At 2336.62 points.

Shares of chip-related companies rose in Japan after the Nasdaq Composite Index in the United States, which includes major companies in the technology sector, recorded on Friday the largest single-day rise since May 26.

Tokyo Electron, a manufacturer of chip manufacturing equipment, rose 1.74%, and Advantest, a manufacturer of chip testing equipment, rose 1.53%, but Shiseido shares fell 14.33%, putting the biggest pressure on the Nikkei index after the cosmetics manufacturer lowered its annual profit expectations.

Shares of Fast Retailing, which owns the Uniqlo brand, also gave up early gains to close down 0.25%.