Japan Nikkei extends losses in sixth session
The Japanese stock market ended lower for the sixth consecutive session on Monday, October 4, 2021, as risk sentiment deteriorated over new concerns over debt-laden property developer China Evergrande Group and weaker expectations. economic reforms after new Japanese Prime Minister Fumio Kishida apparently put factional interests first. inject new faces.
At the closing bell, the 225-issue Nikkei Stock Average stumbled 326.18 points, or 1.13%, to 28,444.89. The larger Topix index of all issues in the first section of the Tokyo Stock Exchange fell 12.39 points, or 0.62%, to 1,973.92.
Main section trading volume amounted to 1.32 billion shares valued at 3.26 trillion yen, compared to yesterday’s trading volume of 1.38 billion shares valued at 3.54 trillion yen.
In total, 15 of the 33 industrial groups finished lower with the Topix, the worst performing issues being shipping (down 7.6%), electrical appliances (down 2.2%), products glass and ceramics (down 2%), precision instruments (down 1.5%), chemicals (down 1.3%) and non-ferrous metals (down 1.2%) %), while air transport (up 2.4%) is the best performing emissions, followed by land transport (up 2.2%), other financial activities (up 1.5%), other financial activities (up 1.5%) %) and Pulp & Paper Emissions (+ 1.4%).
Stocks heavily exposed to the Chinese market fell amid concerns about the Chinese economy after Chinese real estate conglomerate Evergrande Group suspended trading in the Hong Kong market. Toilet maker Toto was down 3.2%, Ryohin Keikakus was down 1.8% and Fast Retailing was down 0.9%.
Shares of shipping companies were also down amid concerns over slowing economic growth in China. Nippon Yusen sank 8.1%, Mitsui O.
SK slipped 7.2% and Kawasaki Kisen fell 8.4%.
CURRENCY NEWS: The dollar recovered its initial losses to close lower of 111 yen on Monday, helped by rising US interest rates. The dollar stood at 111.16-20 yen, compared to 111.25-25 yen on Friday. The euro was at 129.05-05 yen, compared to 128.82-83 yen.
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