The Nikkei plunges by 0.99%
Nikkei, the main stock market index for the Tokyo Stock Exchange, dropped by 0.99% this Monday. Investors chose to take profits after recent rises, and they are awaiting the publication of economic indicators.
The Nikkei, grouping the 225 most representative titles in the market, tumbled by 289.33 points, to 28,860.08 integers.
The Topix, including the firms with the highest capitalization, fell by 1.26% or 24.46 points to stand at 1,922.98.
The Tokyo stock market opened lower and widened losses throughout the session. Investors opted to lock in gains after rising more than 2% in the previous trading on Friday on good employment data from the United States. Last week was characterized by a cautious stance. The market was awaiting the publication throughout the week of a series of economic indicators that give clues about the economy’s evolution.
NTN Corporation lost 4.95%
The real estate sector reaped the significant losses of the day, along with banking and machinery.
Manufacturing company NTN posted the most significant drop of the session among Nikkei-listed firms. NTN Corporation lost 4.95%. The Fukuoka financial group followed it with a decrease of 4.71%. On the other hand, the Shinsei bank yielded 4%.
The Softbank group brought together the most significant volume of operations of the day, and its shares depreciated by 1.57%.
It was followed by the vehicle manufacturer Toyota. Its shares plunged by 0.21%. On the other hand, the electronic components manufacturer Lasertec hiked by 5.85%.
In the first section, 1,712 companies experienced declines against 420 that advanced. Meanwhile, 60 closed unchanged.
The trading volume amounted to 2.24 trillion yen (20,420 million dollars).
Japanese companies will develop chipmaking technology
Japanese companies will work with Taiwan Semiconductor Manufacturing Co to develop chip manufacturing technology in the country. The number of companies amounts to about 20, including Ibiden Co, an electronic component maker.
Japan’s government will pay half of the cost of a research facility, 37 billion yen ($337 million).
