Tokyo’s leading Nikkei went 1.8 percent lower into the weekend at 27,283.59 points, touching the lowest level since January 6, 2021. In July, the Japanese main index fell about 5 percent, marking the worst month on the stock market since March last year, when the outbreak of the corona pandemic led to significant losses on global stock markets.
Among the companies, Sumitomo Dainippon Pharma plunged nearly 1 percent after disappointing results from the Japanese pharmaceutical company. Electrical equipment maker Fuji Electric and electronics manufacturer Fujitsu fell 8 and 9 percent after the publication of the quarterly figures. On a macroeconomic level, it was also found that Japanese industrial production increased by 6.2 percent in June, after falling 6.5 percent in May. Retail sales rose 0.1 percent last month. That was slightly less than expected.
The Hang Seng index in Hong Kong lost 2.2 percent in the meantime. The major Chinese technology companies fell sharply after the strong price recovery a day earlier. Online shopping group Alibaba, tech company Tencent and meal delivery company Meituan fell to 9 percent in Hong Kong. At the start of the week, the Chinese tech sector was also hit hard by concerns about Beijing’s tougher approach to the sector. The Shanghai stock market lost 1 percent and the Kospi in Seoul lost 1.1 percent.
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Corona concerns and dampers in quarterly figures weigh on Japanese stock market | Financial
Source link Corona concerns and dampers in quarterly figures weigh on Japanese stock market | Financial