Japan Nikkei hits one-month low

Japan stock market finished lower for fifth straight session on Friday, 01 October 2021, as risk sentiment soured on tracking overnight losses on Wall Street, with news of various supply constraints worldwide weighing on investor mood.

At closing bell, the 225-issue Nikkei Stock Average stumbled 681.59 points, or 2.31%, to 28,771.07. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 43.85 points, or 2.16%, to 1,986.31.

Trading volume turnover on the main section stood at 1.38 billion shares worth 3.54 trillion yen, as compared yesterday's volume turnover of 1.55 billion shares worth 4.39 trillion yen.

Total 32 of 33 industry groups ended lower along with the Topix, with bottom performing issues were Other Products (down 5.6%), Metal Products (down 3.5%), Warehousing & Harbor Transportation Services (down 3.4%), Wholesale Trade (down 2.9%), Machinery (down 2.8%), Precision Instruments (down 2.7%), and Rubber Products (down 2.7%).

Shares of Nitori Holdings dropped 6% and Sumitomo Chemical fell 5.3% after disappointing earnings updates.

Shares of Sumco declined 4.4% after silicon wafer manufacturer unveiled plans to raise 128 billion yen from new shares to expand production.

Toshiba Corpshares advanced 3.1% after Elliott Investment Management said it has become a "significant investor" in the company.

ECONOMIC NEWS: Japan Jibun Manufacturing PMI Slows In September- Japan manufacturing sector continued to expand in September, with a manufacturing PMI score of 51.5, the latest survey from Jibun Bank showed on Friday. That's down from 52.7 in August although it remains above the boom-or-bust line of 50 that separates expansion from contraction. New orders among Japanese manufacturers fell for the first time since December 2020. The pace of the decline was the quickest recorded for ten months, though was marginal overall. Respondents linked lower sales to weaker client confidence in the domestic market.

Japan Consumer Confidence Improves In September- Japan's consumer confidence rose to the highest level in nineteen months in September, data from the Cabinet Office showed on Friday. On a seasonally adjusted basis, the consumer confidence index increased to 37.8 in September from 36.7 in August. The latest index was the highest since February last year, when it was 38.4.

CURRENCY NEWS: The dollar fetched 111.40 yen in Asian trade on Friday, against 111.24 yen in New York on Thursday.

Powered by Capital Market - Live News