At closing bell, the 225-issue Nikkei Stock Average was down 21.08 points, or 0.07%, to 28,791.53. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 5.91 points, or 0.3%, to 1,943.57.
Trading volume turnover in the 1st section increased to 963 million shares from 870 million shares in previous session. Trading value turnover increased to 2,347.73 billion yen from 1,968.09 billion yen in previous session.
Total 25 of 33 sectors sub-indexes on the Tokyo exchange ended lower, with worst performers were Iron & Steel (down 1%), Foods (down 0.9%), Precision Instruments (down 0.9%), Electric Power & Gas (down 0.9%), Air Transportation (down 0.9%), Real Estate (down 0.8%), Glass & Ceramics Products (down 0.8%), and Land Transportation (down 0.8%) issues, while top gainers were Services (up 0.5%), Information & Communication (up 0.5%), and Rubber Products (up 0.3%) issues.
Investors were concerned that a resurgence of coronavirus infections will negatively affect economic activity. Participants also kept a close eye on the upcoming release of the Bank of Japan's (BOJ) Tankan business sentiment survey and the release of U.S. jobs data for June due later this week for directional cues.
Shares of air transportation and land transportation issues declined on worries that the highly contagious Delta variant of the coronavirus cases triggered tighter restrictions. Japan Airlines dropped 0.4% to 2,401 yen and ANA Holdings was down 1.2% at 2,612.00 yen. Tobu Railway slipped 1.3% to 2,872 yen. Central Japan Railway fell 0.6% to 16,850 yen after Mitsubishi Electric Corp. admitted Tuesday to fabricating data regarding its inspections of air conditioners for train carriages.
Automakers shares were lower with Toyota losing 0.3% to 9,710 yen, Honda dipping 0.1% to 3,550 yen and Nissan falling 0.63% to 551 yen.
Ushio shares climbed 13.4% to 2,030 yen, after the developer of industrial lamps revised upward its net profit estimate for the business year ending March 2022.
ECONOMIC NEWS: Japan industrial production slumped 5.9% month-over-month in May, after a final 2.9% gain a month earlier, official data showed on Wednesday, hit by declines in the manufacturing of cars and production machinery to post its largest monthly drop since May last year. On a yearly basis, industrial output surged 22% in May, after a 15.8% rise in April, amid a low base effects last year.
CURRENCY NEWS: The U.S. dollar was stuck in the mid-110 yen level amid a lack of new trading incentives. The Japanese yen traded at 110.47 per dollar, stronger than levels above 110.8 seen earlier in the week.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
