Japan Nikkei extends losses

Japan share market finished down for second consecutive session on Friday, 10 December 2021, as investors continued withdrawing profit off the table on concerns over another surge of the novel coronavirus in Japan. Meanwhile profit booking also flared on caution ahead of key events in the United States, including CPI data for November later today in global day and a policy meeting of the Federal Reserve next week.

At closing bell, the 225-issue Nikkei Stock Average declined 287.70 points, or 1%, to 28,437.77. The broader Topix index of all First Section issues on the Tokyo Stock Exchange shed 15.31 points, or 0.77%, to 1,975.48.

 

Total 31 of 33 Topix industry groups ended down, with bottom performing issues were Services (down 2.6%), Precision Instruments (down 2%), Rubber Products (down 1.7%), Air Transportation (down 1.4%), and Information & Communication (down 1.3%) issues.

Shares of air and land transportation issues declined on concerns over another surge of the novel coronavirus in Japan and in other countries, including the United States. ANA Holdings lost 0.8% and Japan Airlines fell 2.1%.

Hitachi shares rose on reports that the conglomerate is considering options to streamline its businesses, including the potential sale of its minority stake in a transportation unit.

CURRENCY NEWS: The U.S. dollar hovered around the mid-113 yen range on Friday. The dollar fetched 113.58-59 yen compared with 113.41-51 yen in New York and 113.48-50 yen in Tokyo on Thursday.

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