"The Nikkei was lifted by technology stocks, but overall the market was not strong," said Chihiro Ohta, assistant general manager at the investment research and investor services at SMBC Nikko Securities. The S&P 500 and the Nasdaq closed sharply higher overnight after Federal Reserve Chair Jerome Powell acknowledged that inflation was starting to ease, in remarks he made following a quarter-point rate hike by the U.S. central bank. Uniqlo brand owner Fast Retailing rose 1.81% and was the biggest boost to the Nikkei, followed by chip-related Tokyo Electron and Advantest , which rose 2.97% and 3.06%, respectively. Technology investor SoftBank Group gained 1.17%.
The broader Topix was down 0.27% at 1,966.93.
Toyota Motor fell 1.02%, dragging the Topix the most. Nissan Motor and Honda Motor lost 2.39% and 1.08, respectively.
Mitsubishi UFJ Financial Group fell 1.55%.
The banking sector fell 1.35%.
Sumitomo Chemical tanked 7.46% after the maker of industrial chemicals products and electronic materials cut its operating and net profit forecast to zero. (Reporting by Junko Fujita; Editing by Subhranshu Sahu)
