Register now for FREE unlimited access to Reuters.com
TOKYO, March 11 (Reuters) – Japan’s Nikkei stock index retreated towards a 16-month low on Friday, as risk sentiment soured after talks between Ukraine and Russia’s foreign ministers made little apparent progress.
The Nikkei share average (.N225) lost 2.44% to 25,064.74, retracing about two-thirds of the previous day’s rebound from the lowest close on Wednesday since November 2020 at 24,717.53.
The broader Topix (.TOPX) lost 1.99%.
Register now for FREE unlimited access to Reuters.com
“In this environment where it’s not possible to make a forecast for what’s coming, you can’t expect any real attempt to take stocks higher,” said a trader at a domestic securities firm.
About three times as many shares fell as rose on the Nikkei, with the sectors that faired the best on Thursday – consumer, real estate and tech – dropping the most. Energy shares saw a sharp gain, however, as crude oil resumed its climb.
The stand-out loser was tech investor SoftBank Group (9984.T), declining 6.32% to become the biggest percentage decliner and biggest drag by index points. Shares in the company, which is heavily invested in Chinese startups, slid back to the cusp of their May 2020 low.
Chipmaking giant Tokyo Electron (8035.T) lost 3.06% to be the second-largest drag on the benchmark, followed by Uniqlo store operator Fast Retailing (9983.T), which said late Thursday that it would suspend its Russian business, backtracking on an earlier decision to keep stores open. read more
Automakers fell after strong gains in the previous session. Toyota Motor (7203.T) dropped 5.01% and Nissan slid 4.73%.
Energy- and commodity-related stocks advanced, with JGC Holdings soaring 12.41% to be the Nikkei’s top performer, followed by a 5.38% advance for Pacific Metals Co (5541.T) and a 3.06% gain for refiner Inpex (1605.T).
Register now for FREE unlimited access to Reuters.com
Reporting by Tokyo markets team; Editing by Subhranshu Sahu
Our Standards: The Thomson Reuters Trust Principles.
Register now for FREE unlimited access to Reuters.comTOKYO, March 11 (Reuters) – Japan’s Nikkei stock index retreated towards a 16-month low on Friday, as risk sentiment soured after talks between Ukraine and Russia’s foreign ministers made little apparent progress.The Nikkei share average (.N225) lost 2.44% to 25,064.74, retracing about two-thirds of the previous day’s rebound from the lowest close on Wednesday since November 2020 at 24,717.53.The broader Topix (.TOPX) lost 1.99%.Register now for FREE unlimited access to Reuters.com”In this environment where it’s not possible to make a forecast for what’s coming, you can’t expect any real attempt to take stocks higher,” said a trader at a domestic securities firm.About three times as many shares fell as rose on the Nikkei, with the sectors that faired the best on Thursday – consumer, real estate and tech – dropping the most. Energy shares saw a sharp gain, however, as crude oil resumed its climb.The stand-out loser was tech investor SoftBank Group (9984.T), declining 6.32% to become the biggest percentage decliner and biggest drag by index points. Shares in the company, which is heavily invested in Chinese startups, slid back to the cusp of their May 2020 low.Chipmaking giant Tokyo Electron (8035.T) lost 3.06% to be the second-largest drag on the benchmark, followed by Uniqlo store operator Fast Retailing (9983.T), which said late Thursday that it would suspend its Russian business, backtracking on an earlier decision to keep stores open. read more Automakers fell after strong gains in the previous session. Toyota Motor (7203.T) dropped 5.01% and Nissan slid 4.73%.Energy- and commodity-related stocks advanced, with JGC Holdings soaring 12.41% to be the Nikkei’s top performer, followed by a 5.38% advance for Pacific Metals Co (5541.T) and a 3.06% gain for refiner Inpex (1605.T).Register now for FREE unlimited access to Reuters.comReporting by Tokyo markets team; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.