Japan Stocks fall to one-month low

Japan share market finished session at one-month low on Thursday, 04 March 2021, as investor sentiment was dented by following negative cues overnight from Wall Street amid rising bond yields and surging oil prices.

At closing bell, the 225-issue Nikkei Stock Average retreated 628.99 points, or 2.13%, to 28,930.11. The broader Topix index of all First Section issues on the Tokyo Stock Exchange tanked 19.80 points, or 1.04%, to 1,884.74.

Jitters over higher borrowing costs in the world's largest economy have sparked fears about its outlook as well as the negative fallout on trade partners including Japan, where shares tend to track developments on Wall Street.

Nonferrous metal, information and communication, and air transportation issues comprised those that declined the most by the close of play.

Travel agencies were lower after Prime Minister Yoshihide Suga said Wednesday the government needs to extend a coronavirus-related state of emergency in the Tokyo metropolitan region for around two weeks beyond its scheduled end on Sunday. H.I.S. skidded 99 yen, or 4.2%, to 2,276 yen, while Knt-Ct Holdings sagged 26 yen, or 2.3%, to 1,120 yen.

ECONOMIC NEWS: Japan Consumer Confidence Climbs To Highest Level In One Year In February - Japan's consumer confidence index increased to 33.8 in February from 29.6 in January, on a seasonally adjusted basis, data from the Cabinet Office showed on Thursday. The latest index was the highest since February last year, when it was 38.3. Among the four sub-indexes of the consumer confidence index, the index for overall livelihood rose to 36.3 in February and the index reflecting households' willingness to buy durable consumer goods surged to 36.1. The indicators measuring the income growth increased to 35.4 and employment grew to 27.5.

CURRENCY NEWS: The U.S. dollar edged up to the lower 107 yen range on expectations for wider interest rate gaps between the United States and Japan following a rise in U.S. Treasury yields on Wednesday.

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