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Japan Market falls on ex-dividend unloading

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Headline indices of the Japan share market closed down on Friday, 27 September 2019, on caution ahead of an Oct. 1 hike in Japan's sales tax to 10% from 8% and as investors went ex-dividend unloading. At closing bell, the 225-issue Nikkei Stock Average dropped 169.34 points, or 0.77%, to 21,878.90, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange shed 19.02 points, or 1.17%, at 1,604.25.

For the full week, Nikkei shares fell 0.9%.

Total 31 out of 33 industry category of Topix index declined into negative territory, with Electric Power & Gas, Other Financial Business, Air Transportation, Banks, Securities & Commodities Futures, and Wholesale Trade issues being notable losers.

Shares of Apple supplier Japan Display plunged more than 8% after the company said Thursday Chinese investment firm Harvest Group would withdraw from a bailout.

CURRENCY NEWS: The Japanese yen, often viewed as a safe-haven currency in times of uncertainty, depreciated against greenback on Thursday. The Japanese yen traded at 107.69 per dollar after weakening from levels below 107.5 yesterday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 27 2019. 13:48 IST