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Japan Nikkei falls 1%

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Capital Market
Last Updated : Dec 23 2022 | 1:04 PM IST
Japan share market finished session lower on Friday, 23 December 2022, as risk aversion selloff triggered on tracking overnight decline on Wall Street amid concerns over the Federal Reserve's continued policy tightening and rising COVID cases in China.

At closing bell, the 225-issue Nikkei Stock Average index fell by 261.56 points, or 1%, to 26,246.31. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 9.92 points, or 0.52%, to 1,898.25.

Total 28 of 33 sectors closed lower along with the Topix index. Marine Transportation was worst performing sector, falling 1.9%, followed by Nonferrous Metals (down 1.7%), Real Estate (down 1.69%), Machinery (down 1.45%), and Precision Instruments (down 1.34%) sectors.

Semiconductor shares declined on tracking US peers losses after weaker-than-expected earnings from Micron Technology Inc., clouding the outlook for chip demand and its manufacturing equipment. Chip-manufacturing equipment maker Tokyo Electron lost 3.7% and chip-testing equipment maker Advantest fell 3.9%.

Utilities shares were higher after government allowed nuclear reactors to operate beyond their current limit of 60 years and replace aging facilities with new advanced ones in a major policy change. Tokyo Electric Power Company Holdings surged 6.2% and Kansai Electric Power soared 5.7%.

ECONOMIC NEWS: Minutes of the BOJ's October policy meeting released today showed that some policymakers called for the need to continue checking how a future exit from ultra-low interest rates could affect markets and households' mortgage rates.

CURRENCY NEWS: The Japanese yen stood at 132.63 against US dollar in Asian trade on Friday, 0.22% depreciated from yesterday's close of 132.33, after trading in the range between 132.16-132.79.

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First Published: Dec 23 2022 | 12:49 PM IST

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