Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Japanese shares fall on weak Wall Street finish, BOJ's absence

Published 12/05/2021, 03:52
Updated 12/05/2021, 03:54
© Reuters.

TOKYO, May 12 (Reuters) - Japanese shares fell on Wednesday,
following a weak finish on Wall Street and as investors were
concerned by the Bank of Japan's absence despite a sharp drop in
the previous session.
The Nikkei share average .N225 fell 0.83% to 28,366.44 by
0204 GMT, after shedding more than 3% on Tuesday. The broader
Topix .TOPX lost 1.07% to 1,885.46.
Overnight, Wall Street ended lower amid speculations that
surging commodity prices and growing inflationary pressure could
lead to earlier-than-expected rate hikes. .N
"Today's market is dragged down by the Dow's decline," said
Yoshihiro Takeshige, general manager at investment management
department of Asahi Life Asset Management.
"The Bank of Japan seems to have become less active in
supporting the market, which made investors cautious about
making bids."
The Bank of Japan, which typically buys stocks in
exchange-traded funds (ETFs) in bulk when markets are falling,
did not step in on Tuesday, when both the Nikkei and Topix
marked their biggest daily drop since Feb. 26.
SoftBank Group 9984.T dragged the Nikkei lower by losing
2.9% despite a local media report that the tech start-up
investor was set to post record net profit later in the day.

Nissan Motor 7201.T tumbled 11.87% after the automaker
flagged a weaker-than-expected guidance for the current fiscal
year. Toyota Motor 7203.T , which is slated to issue its outlook
later on Wednesday, edged down 0.55%.
The largest percentage gainers in the index were Nichirei
2871.T , up 5.1%, followed by Yamaha 7951.T , gaining 5.08%,
and Sharp Corp 6753.T , up 5.05%.
The largest percentage losers in the index were Mitsui E&S
Holdings 7003.T , tumbling 14.26%, and Pacific Metals 5541.T ,
shedding 13.56%.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.