Japan Nikkei falls 1%

Japan stock market finished session lower on Wednesday, 07 July 2021, with every industry category lost ground except for precision instrument issues, as investors sentiments spooked by the recent acceleration in the new wave of coronavirus cases, particularly in Olympic city Tokyo

At closing bell, the 225-issue Nikkei Stock Average was down 276.26 points, or 0.96%, to 28,366.95. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 16.82 points, or 0.86%, to 1,937.68.

Trading volume turnover in the 1st section increased to 1,066 million shares from 794 million shares in previous session. Trading value turnover increased to 2,293.89 billion yen from 1,690.96 billion yen in previous session.

Total 32 of 33 sectors sub-indexes on the Tokyo exchange ended lower, with worst performers were Mining (down 3.5%), Oil & Coal Products (down 2.3%), Insurance (down 2.1%), Iron & Steel (down 2%), Banks (down 2%),Securities & Commodities Futures (down 1.9%), and Nonferrous Metals (down 1.8%) issues.

Chip-related shares were lower amid stronger yen against greenback, with Tokyo Electron slipping 0.4%, Advantest falling 0.82% and Shin-Etsu Chemical dropping 3.27%.Toyota Motor fell 0.6% to 9,734 yen and Sony Group declined 1% to 11,125 yen.

Bank shares fell, with Mitsubishi UFJ Financial Group falling 2%, Mizuho Financial Group losing 1.9% and Sumitomo Mitsui Financial Group falling 1.8%.

Energy-related stocks dropped on the back of crude oil futures following a standoff over production levels among the Organization of the Petroleum Exporting Countries and other major oil producers. Inpex slipped 3.7% to 825 yen and Cosmo Energy Holdings lost 2.2% to 2,585 yen.

Technology start-up investor SoftBank Group fell 0.6% as Didi Global, which it backs, fell as much as 25% in early U.S. trading on Tuesday after Chinese regulators ordered Didi's app be taken down.

CURRENCY NEWS: The U.S. dollar fell to the mid-110 yen range as a safe-haven asset demand resumed after the U.S. data showing slower-than-expected growth in the services sector. The Japanese yen traded at 110.69 per dollar, stronger than levels above 110.8 seen against the greenback earlier this week.

Powered by Capital Market - Live News