The Japanese stock market is notably lower on Thursday, extending the losses of the previous session, with the benchmark Nikkei 225 just below the 29,300 level, following the negative cues overnight from Wall Street after the US Fed tipped an earlier-than-expected rise in interest rates.
Meanwhile, the losses are capped as the Japanese government is set to decide later in the day to end the COVID-19 state of emergency in most prefectures on Sunday after a steady decline in COVID-19 infections.
The benchmark Nikkei 225 Index is losing 150.29 points or 0.51 percent to 29,291.01, after hitting a low of 29,263.72 earlier. Japanese shares ended notably lower on Wednesday.
Market heavyweight SoftBank Group is losing almost 2 percent and Uniqlo operator Fast Retailing is edging down 0.5 percent. Among automakers, Toyota is flat, while Honda is edging down 0.4 percent. Mazda is gaining almost 2 percent.
In the tech space, Advantest is losing more than 3 percent, Screen Holdings is down more than 2 percent and Tokyo Electron is declining almost 1 percent.
In the banking sector, Sumitomo Mitsui Financial and Mitsubishi UFJ Financial are gaining more than 1 percent, while Mizuho Financial is up almost 1 percent.
The major exporters are mixed. Mitsubishi Electric is losing more than 1 percent, Panasonic is down almost 2 percent and Sony is losing more than 2 percent, while Canon is edging up 0.2 percent.
Among the other major losers, Komatsu is losing almost 5 percent and M3 is declining more than 3 percent, while TDK, Chugai Pharmaceutical, Kyocera, Kawasaki Kisen Kaisha, Suzuki Motor, Isuzu Motors and Toho Zinc are down almost 3 percent each. Hitachi Construction Machinery, Taisei, FUJIFILM Holdings and Mitsui O.S.K. Lines are lower by more than 2 percent.
Conversely, T&D Holdings is gaining more than 4 percent, while Mitsubishi Chemical Holdings and Dai-ichi Life Holdings are adding more than 3 percent each. Japan Exchange Group and Z Holdings are up almost 3 percent each, while Dowa Holdings, Amada and Mitsubishi Heavy Industries are rising more than 2 percent each.
In the currency market, the U.S. dollar is trading in the higher 110 yen-range on Thursday.
On Wall Street, stocks finished Wednesday’s trading mostly lower, reflecting a negative reaction to the Federal Reserve’s highly anticipated monetary policy announcement. With the drop on the day, the Nasdaq and the S&P 500 pulled back further off Monday’s record closing highs.
The major averages climbed well off their lows of the session but still closed in negative territory. The Dow slid 265.66 points or 0.8 percent to 34,033.67, the Nasdaq dipped 33.17 points or 0.2 percent to 14,039.68 and the S&P 500 fell 22.89 points or 0.5 percent to 4,223.70.
Meanwhile, the major European markets turned in a mixed performance on the day. While the German DAX Index edged down by 0.1 percent, the French CAC 40 Index and the U.K.’s FTSE 100 Index both crept up by 0.2 percent.
Crude oil futures failed to hold early gains and settled roughly flat on Wednesday, despite data showing a larger than expected drop in crude inventories last week. West Texas Intermediate Crude oil futures for July ended up by $0.03 at $72.15 a barrel after peaking earlier at $72.99.
Market Analysis
Japanese Market Notably Lower
2021-06-17 02:29:37
