Japan Market falls on profit booking

Japan share market finished choppy session lower on Monday, 28 November 2022, weighed down by selloff in semiconductor-related issues and concerns over surge in coronavirus cases in the world's second-largest economy.

Traders refrained from making significant moves amid growing unrest in China amid the zero-COVID policy with record-high domestic daily Covid-19 cases and the unprecedented COVID restrictions in several cities in China.

At closing bell, the 225-issue Nikkei Stock Average index declined 120.20 points, or 0.43%, to 28,162.83. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 13.69 points, or 0.68%, to 2,004.31.

 

Shares of semiconductor-related issues declined, with Tokyo Electron falling 1.6% to 45,300 yen, while chip-testing equipment maker Advantest 0.5% to 9,260 yen.

Hakuhodo DY Holdings fell 2.6%, after Japanese authorities searched its office Monday on suspicion of bid rigging for contracts related to test events for last year's Tokyo Olympics.

CURRENCY NEWS: The dollar fetched 138.30-32 yen compared with 139.11-21 yen in New York and 138.78-81 yen in Tokyo at 5 p.m. Friday.

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