Japan Market falls on renewed Ukraine concerns

17 Feb 2022 , 04:50 PM

Japan share market finished session lower on Thursday, 17 February 2022, as investors opted to lock in gains on rekindling fears over a possible Russian invasion of Ukraine on reported firing of shells in Ukraine, with woes over rising US interest rates also contributing to a circumspect mood.

At closing bell, the 225-issue Nikkei Stock Average fell 227.53 points, or 0.83%, to 27,232.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange sank 15.39 points, or 0.79%, to 1,931.24.

Total 26 of 33 TSE issues declined, with bottom performing issues were Services, Warehousing & Harbor Transportation Services, Information & Communication, Real Estate, and Glass & Ceramics Products, while top performing sectors included Mining, Wholesale Trade, and Land Transportation.

ECONOMIC NEWS: Japan Core Machine Orders Climb 3.6% On Month In December- Japan value of core machine orders climbed a seasonally adjusted 3.6% on month in December, coming in at 932.4 billion yen, the Cabinet Office said on Thursday, following the 3.4% gain in November. On a yearly basis, core machine orders climbed 5.1% after spiking 11.6% in the previous month. For the fourth quarter of 2021, core machine orders were up 6.5% on quarter and 6.4% on year at 2,703.5 billion yen. For the first quarter of 2022, core machine orders are seen lower by 1.1% on quarter and higher by 8.6% on year.

Japan Posts Y2,191.1 Billion Trade Deficit In January- Japan posted a merchandise trade deficit of 2,191.1 billion yen in January, the Ministry of Finance said on Thursday, following the downwardly revised 583.3 billion yen deficit in December (originally a 582.4 billion yen deficit). Exports gained 9.6% on year, down from 17.5% in the previous month. Imports surged an annual 39.6%, after spiking 41.1% a month earlier.

CURRENCY NEWS: The dollar dropped to around 115.30 yen in Tokyo trading Thursday, hit by selling on reported firing of shells in Ukraine. At 5 p.m., the dollar fetched 115.29-31 yen compared with 115.40-50 yen in New York and 115.64-65 yen in Tokyo at 5 p.m. Wednesday.

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