Japan Nikkei falls on profit booking

Japan share market finished session lower on Thursday, 09 December 2021, snapping two days of winning streak, as investors opted to book recent profit on caution ahead of key events in the United States, including a policy meeting of the Federal Reserve next week.

At closing bell, the 225-issue Nikkei Stock Average declined 135.15 points, or 0.47%, to 28,725.47. The broader Topix index of all First Section issues on the Tokyo Stock Exchange shed 11.45 points, or 0.57%, to 1,990.79.

Total 28 of 33 Topix industry groups ended down, with bottom performing issues were Textiles & Apparels (down 1.2%), Precision Instruments (down 1.2%), Metal Products (down 1.16%), Electric Appliances (down 1%), and Nonferrous Metals (down 0.9%) issues, while top performing issues included Warehousing & Harbor Transportation Services (up 0.9%), Rubber Products (up 0.7%), and Air Transportation (up 0.6%) issues.

 

Shares of automakers were lower, with Toyota Motor down 0.6% and Honda Motor down 1.1% on reports that they have been sued by a U.S. patent management company for alleged patent infringements over their use of communications technologies for network-connected cars.

Shares of air transportation issues gained ground after preliminary laboratory studies showed the Covid-19 vaccine from Pfizer and BioNTech offered some protection against the new Omicron variant. ANA Holdings rose 0.3% and Japan Airlines added 0.9%.

CURRENCY NEWS: The U.S. dollar hovered around the mid-113 yen range on Thursday. The dollar fetched 113.48-50 yen compared with 113.64-74 yen in New York and 113.40-41 yen in Tokyo on Wednesday.

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