Japan Market falls 0.66%

Japan share market finished session notably lower on Friday, 17 February 2023, as risk aversion selloff triggered on tracking Wall Street losses after hotter-than-expected U.S. producer price data coupled with hawkish comments from two Federal Reserve reignited prospect of continued hiking U.S. interest rate to tackle inflation.

The 225-issue Nikkei Stock Average index declined 183.31 points, or 0.66%, to finish at 27,513.13. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 9.16 points, or 0.46%, to 1,991.93.

Total 16 of 33 TSE sectors were lower, with Precision Instruments, Services, Electric Appliances, Mining, and Oil & Coal Products issues being notable losers, while Rubber Products and Iron & Steel issues were notable gainers.

 

Shares of tech-related issues fell, tracking a drop in their U.S. peers overnight. Chip-manufacturing equipment maker Tokyo Electron lost 1.7% to 46,190 yen, and chip-testing equipment maker Advantest fell 1.8% to 10,050 yen.

Bridgestone surged 4.3% to 5,148 yen, a day after the major tire maker said that its operating profit for the business year ending December rose 17.1% from a year earlier.

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