Japanese market falls on Russian-Ukrainian jitters

The Japanese stock market ended its session lower on Thursday, March 31, 2022, weighed down by the follow-up to Wall Street’s negative advance overnight as hopes for peace in Ukraine crumbled.

At the close, the 225-number Nikkei Stock Average was down 205.82 points, or 0.73%, at 27,821.43. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 21.20 points, or 1.08%, to 1,946.40.

For the month, the Nikkei posted gains of 4.88%, while for the quarter, the Nikkei lost 3.37%.

Recruitment agency Recruit Holdings weighed the most on the Nikkei, falling 3.75%, followed by technology investor SoftBank Group, which fell 1.3%. Drugmaker Chugai Pharmaceutical lost 2.13%.

ECONOMIC NEWS: Japan’s industrial production picks up in February – Japan’s industrial production rose 0.1% month on month in February, the Ministry of Economy, Trade and Industry said on Thursday, after the upward-revised contraction of 0.8% in January (originally -1.3%).

On an annual basis, industrial production rose 0.2%, in line with forecasts after falling 0.5% the previous month. When releasing the data, the METI stood by its assessment of industrial production, saying it continues to show signs of upward movement.

CURRENCY NEWS: The dollar was little changed against the greenback on Thursday, after Japanese Prime Minister Fumio Kishida commented on the recent rapid decline in the yen. As of 5 p.m., the dollar stood at 121.63-64 yen, compared to 121.87-88 yen at the same time on Wednesday. The euro was at 135.63-64 yen, almost unchanged from 135.61-66 yen.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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