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Japanese market down sharply |  Nasdaq

(RTTNews) – The Japanese stock market was down sharply on Wednesday, giving up some of the gains from the previous two sessions, with the benchmark Nikkei losing almost 500 points to fall below the 27,400 level, following broadly negative signals from Wall Street, amid the escalating Russian-Ukrainian conflict and harsh sanctions imposed on Russia by Western countries.

The benchmark Nikkei 225 is up 487.45 points or 1.82% at 26,357.27, after hitting a low of 26,346.18 earlier. Japanese stocks closed sharply higher on Tuesday.

The SoftBank group, heavyweight in the market, lost nearly 1%, while the operator Uniqlo Fast Retailing gained nearly 1%. Among automakers, Honda is down more than 3% and Toyota is down nearly 3% after news that its CEO Satoshi Tsunakawa has stepped down.

In technology, Screen Holdings lost more than 1%, while Advantest and Tokyo Electron fell more than 2% each.

In the banking sector, Mizuho Financial lost almost 2%, while Sumitomo Mitsui Financial and Mitsubishi UFJ Financial fell by more than 2% each.

Among major exporters, Canon lost more than 2% and Panasonic fell more than 3%, while Mitsubishi Electric and Sony fell more than 1% each.

Among the other big losers, T&D Holdings is down almost 6%, Bridgestone is down more than 5% and Taiheiyo Cement is down almost 5%, while Dai-ichi Life Holdings and Tokyu Fudosan are down more than 3% each. . Fanuc, Toto and Chiba Bank are down nearly 4% each, while Ricoh, Nissan Motor, Asahi Kasei, DIC, Concordia Financial, Fujikura and Honda Motor are all down more than 3% each.

Conversely, Pacific Metals soared more than 10%, Inpex jumped almost 7%, Toho Zinc gained almost 5%, Dowa Holdings gained more than 4%, NEXON rose more than 3% and Sumitomo Metal Mining progressed by almost 3%. percent.

In the currency market, the US dollar is trading in the 115 yen range on Wednesday.

On Wall Street, stocks faltered under sustained selling pressure and ended firmly in negative territory on Tuesday amid growing worries about growth due to the ongoing Russian-Ukrainian war and a series of imposed sanctions. to Russia by the United States and its Western allies.

The market remained weak throughout the day’s session and the major averages all ended in heavy losses. The Dow Jones ended down 597.65 points or 1.65% at 33,294.95. The S&P 500 fell 67.68 points or 1.55% to 4,306.26 and the Nasdaq ended with a loss of 218.94 points or 1.59%.

Major European markets also ended sharply lower today. Britain’s FTSE 100 lost 1.72%, Germany’s DAX fell 3.85% and France’s CAC 40 fell 3.94%.

Crude oil prices rose sharply on Tuesday as an escalation in the ongoing Russian-Ukrainian war and a series of sanctions imposed on Russia raised concerns about global oil supplies. West Texas Intermediate crude oil futures for April ended up $7.69 or 8% at $103.41 a barrel, the highest settlement since July 2014.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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