The Japanese market falls on the ex-dividend sale

The Japanese stock market ended its session lower on Wednesday, March 30, 2022, weighed down by typical ex-dividend day selling and square selling.

However, market losses plateaued amid optimism around a peaceful resolution to the war in Ukraine after Russia vowed on Tuesday to scale back military operations around the Ukrainian capital, Kyiv, while Ukraine proposed adopting a neutral status in face-to-face negotiations.

At the closing bell, the 225-number Nikkei Stock Average was down 225.17 points, or 0.8%, at 28,027.25. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 24.06 points, or 1.21%, to 1,967.60.

Shippers retreated on fears of lower demand, with Nippon Yusen losing as much as 8.6%.

Nintendo shares fell 5.8% after the video game maker delayed the launch of a highly anticipated game.

ECONOMIC NEWS: Japan Retail Sales Fall 0.8% YoY In February The total value of retail sales in Japan fell 0.8% YoY in February, the Ministry of Finance announced on Wednesday. of Economy, Trade and Industry, reaching 11.537 billion yen, following the downwardly revised increase of 1.1% in January (originally 1.6%).

On a month-to-month basis, retail sales fell another 0.8% after falling 0.9% the previous month.

CURRENCY NEWS: The dollar fell below 122 yen in Tokyo on Wednesday, hit by speculative and squared selling. As of 5 p.m., the dollar stood at 121.87-88 yen, compared to 123.57-61 yen at the same time on Tuesday. The euro was at 135.61-66 yen, down from 135.92-99 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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