The Tokyo Stock Exchange dropped by 1.61%, dragged by Wall Street
The Tokyo Stock Exchange closed today with a decrease of 1.61% in its primary indicator, the Nikkei. It ended at its lowest level in three months, dragged again by the losses of Wall Street.
The Nikkei ended 461.08 points lower to 28,147.51 integers. Meanwhile, the broader Topix index, which includes the largest capitalization stocks, yielded 27.97 points or 1.47%, to 1,877.95.
The widespread losses once again weighed down the Tokyo stock market recorded the day before on Wall Street and led again by the technology sector.
Leading technological stocks experienced sales on the new york stock market. Analysts consider it a result of the expectations of an increase in inflation. This shock has been transferred to the Tokyo Stock Exchange and other markets.
Toyota ended the day with increases
This negative factor nullified the mood generated among investors by the good business results of Toyota Motor on Wednesday. The company with one of the largest capitalization in Tokyo ended the day with a gain of 2.18%. Toyota increased its net profit by 10.3% in fiscal 2020 to 2.24 trillion yen. The company reached these results thanks to lower costs and some recovery in sales after the pandemic’s impact.
The technological Softbank lost 3.44% before presenting its annual results after the trading’s close.
Another noteworthy mention is the 10% fall of the car manufacturer Nissan Motor. The day before, the company announced a net loss of 448.7 billion yen in 2020. Besides, it forecasted that it would continue in the red in 2021 for the third consecutive year.
Concern about the outlook for the technology sector spread to stocks such as conglomerate Sony, which lost 0.96%. On the other hand, chip components maker Tokyo Electron lost 3.16%.
From the first section, 1,795 stocks fell, 349 advanced, and 50 ended unchanged. The sectors with the most significant declines were shipping, oil, coal, and steel. The trading volume amounted to 3.4 trillion yen.
