Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Chipmakers, shippers drive Japanese shares to end lower

09/28/2021 | 03:03am EDT

TOKYO, Sept 28 (Reuters) - Japanese shares ended lower on Tuesday, as heavy losses in chipmakers and shippers eclipsed investor hopes for a steady economic growth momentum under a new political leadership in the run-up to a ruling party election.

The Nikkei share average dipped 0.19% to close at 30,183.96, after falling as much as 0.78% earlier in the session. The broader Topix edged down 0.29% to 2,081.77.

"Losses eased because investors have realized Japan is a preferred market globally right now," Shigetoshi Kamada, general manager at the research department at Tachibana Securities said.

"China has bigger risks due to Evergrande's debt issues, and the U.S. economy might have peaked out. Outlook of Germany's politics is not clear."

The Nikkei gained more than 7% so far this month in the run-up to the Liberal Democratic Party's leadership election, which will effectively choose the new prime minister.

Irrespective of who becomes the prime minister, investors are now confident that Japan's political base will be stable under the current coalition, Kamada added.

Japan's economic growth could accelerate as the country is set to lift a coronavirus state of emergency in all regions on Thursday amid a drop in COVID-19 infections.

Chip heavyweights Advantest lost 3.57%, Tokyo Electron slipped 1.05% and Shin-Etsu Chemical lost 1.47%.

Shippers led the decline among the Tokyo Stock Exchange's 33 sub-indexes with a drop of 8.61%.

Kawasaki Kisen Kaisha tumbled 14.45%, making it the biggest percentage loser on the Nikkei, followed by Nippon Yusen losing 8.18%, and Mitsui OSK Lines down 7.04%.

Oil explorers climbed the most with Inpex gaining 4.2% and Japan Petroleum Exploration rising 1.33%. (Reporting by Junko Fujita; Editing by Subhranshu Sahu and Sherry Jacob-Phillips)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION 1.55% 9200 End-of-day quote.19.02%
INPEX CORPORATION 1.13% 987 End-of-day quote.77.52%
JAPAN PETROLEUM EXPLORATION CO., LTD. 1.96% 2183 End-of-day quote.16.36%
KAWASAKI KISEN KAISHA, LTD. 5.41% 5460 End-of-day quote.158.52%
MITSUI O.S.K. LINES, LTD. 2.23% 6870 End-of-day quote.118.10%
NIPPON YUSEN KABUSHIKI KAISHA 2.93% 8080 End-of-day quote.236.39%
SHIN-ETSU CHEMICAL CO., LTD. 2.07% 19480 End-of-day quote.7.98%
TOKYO ELECTRON LIMITED 2.35% 51310 End-of-day quote.33.62%
Latest news "Economy & Forex"
05:56pBiden to name 'slate' to Fed, emphasis on workers - Senator Brown says
05:50pGM to resume limited production at EV plant in Michigan
05:42pToronto market's record-setting win streak ends at 14 days
05:35pNew Zealand insurance stress test highlights reliance on reinsurance
05:33pThe WSJ Dollar Index Rises 0.11% to 88.21 -- Data Talk
05:33pEuro Lost 0.13% to $1.1596 -- Data Talk
05:32pTemasek's new investment platform to target local, mid-sized firms
05:32pSterling Gains 0.01% to $1.3767 -- Data Talk
05:32pDollar Gains 0.39% to 114.16 Yen -- Data Talk
05:31pDogecoin Gained 0.20% to $0.266 at 5 p.m. ET -- Data Talk
Latest news "Economy & Forex"