Japan Market falls 0.88%

Japan share market finished session lower on Monday, 13 February 2023, as risk sentiments dampened amid speculation about an early end to the BOJ's super-easy policies under new Bank of Japan governor. Most of sectors declined, with shares in semiconductor-related and other tech shares being notable losers

The 225-issue Nikkei Stock Average index declined 243.66 points, or 0.88%, to finish at 27,427.32. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 9.29 points, or 0.47%, to 1,977.67.

Total 21 of 33 TSE sectors declined, with Precision Instruments, Electric Appliances, Metal Products, Chemicals, and Nonferrous Metals being notable losers, while Mining, Marine Transportation, Iron & Steel, and Oil & Coal Products issues were notable gainers.

The government is set to officially announce the nomination of the new governor on Tuesday. The Japanese government has decided to nominate academic Kazuo Ueda as the next governor of the BOJ, and former head of Japan's Financial Services Agency Ryozo Himino and BOJ executive Shinichi Uchida as deputy governors.

CURRENCY NEWS: Japanese yen depreciated to upper 132 level against greenback. The dollar stood at 132.56 yen in late Tokyo trading Monday, up 0.9% from 131.41 on Thursday, after trading in the range of 131.30-132.76.

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