Japan Stocks end mixed in lacklustre trade

Japan stock market finished session marginal lower after fluctuating between gains and losses on Wednesday, 23 June 2021, amid a lack of fresh trading cues, with losses in steelmakers, brokerages, property developers, and pharma stocks offset gains in materials and resources and energy stocks.

At closing bell, the 225-issue Nikkei Stock Average fell 9.24 points, or 0.03%, to 28,874.89. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 10.39 points, or 0.53%, to 1,949.14.

Trading volume turnover in the 1st section decreased to 944 million shares from 1,173 million shares in previous session. Trading value turnover decreased to 2,285.62 billion yen from 2,772.88 billion yen in previous session.

Total 28 of 33 sectors sub-indexes on the Tokyo exchange ended lower, with top losers were Iron & Steel (down 1.4%, Securities & Commodities Futures (down 1.4%), Real Estate (down 1.3%), Pharmaceutical (down 1.1%), Electric Power & Gas (down 1.1%), Banks (down 0.9%), and Textiles & Apparels (down 0.9%) sectors, while top gainers included Mining (up 0.9%), Warehousing & Harbor Transportation Services (down 0.6%), and Oil & Coal Products (down 0.5%) sectors.

ECONOMIC NEWS: Japan Jibun Manufacturing Stays In Expansion In June - Japan manufacturing sector stayed in expansion with a manufacturing PMI score of 51.5, the latest survey from Jibun Bank revealed on Wednesday. That's down from 53.0 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. This was the weakest reading of the headline Index for four months. This came as output levels declined for the first time since January and at the quickest pace seen since November 2020, while growth in new orders softened to a marginal pace. Positively, job creation continued for the third consecutive month, with the rate of growth picking up slightly to reach the fastest since January 2020. Firms also remained confident that activity would increase over the next 12 months, however optimism dipped to a three-month low in June. The survey also showed that the services PMI rose to 47.2 from 45.7 in June and the composite index fell to 47.8 from 48.8 a month earlier.

CURRENCY NEWS: The Japanese yen changed hands at 110.75 per dollar, having weakened from below 110 against the greenback earlier this week.

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