Japan Market falls on profit taking

Japan share market finished session lower on Thursday, 27 May 2021, as investor opted to book profit after benchmark indices rising for five consecutive days.

At closing bell, the 225-issue Nikkei Stock Average declined 93.18 points, or 0.33%, to 28,549.01. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 9.65 points, or 0.5%, to 1,911.02.

Trading volume turnover in the 1st section increased to 2,404 million shares from 1,096 million shares yesterday. Trading value turnover increased to 5,599.56 billion yen from 2,413.80 billion yen yesterday.

Total 29 sub-indexes of the 33 sector sub-indexes on the Tokyo exchange were lower, with Iron & Steel, Marine Transportation, Mining, Warehousing & Harbor Transportation Services, Fishery, Agriculture & Forestry, and Chemicals sectors being notable losers, while Air Transportation, Transportation Equipment, and Pharmaceutical sectors were notable gainers.

Shipping companies and steelmakers fell sharply, with Mitsui O.S.K. Lines sinking 3.1% to 4,265 yen, and Kawasaki Kisen shedding 2.8% to 2,816 yen. Kobe Steel dropped 3.8% at 727 yen, while JFE Holdings slid 4.1% to 1,434 yen.

Fujitsu dropped 3% to 17,950 yen after the government said some data were leaked because of a hacking attack involving Fujitsu software widely used by ministries.

Nissan gained 1.8% to 536.7 yen after reports that around 90 overseas institutional investors have filed a suit demanding 34.4 billion yen for damage from the automaker.

CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.964 following a recent climb from below 89.7. The Japanese yen traded at 109.11 per dollar, weaker than levels below 108.9 against the greenback seen yesterday.

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