Japan Nikkei end lower as tech stocks drag

11 Apr 2022 , 04:35 PM

Japan share market finished session lower on Monday, 11 April 2022, as investors appetite for riskier assets dented amid lingering worries over the economic costs of war in Ukraine and a worsening coronavirus outbreak in Shanghai.

At closing bell, the 225-issue Nikkei Stock Average fell 164.28 points, or 0.61%, to 26,821.52. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 7.15 points, or 0.38%, to 1,889.64.

Tech stocks tumbled on tracking decline in US peers as unease lingered over tightening monetary policy by the United States. Technology investor SoftBank Group lost 2.69%, while medical services platform M3 fell 5.34%.

Shares of renewable and nuclear power energy gained after Prime Minister Fumio Kishida announced a ban on Russia coal, a move that could accelerate the transition to renewable energy and the restarting of nuclear plants. Tokyo Electric Power Company Holdings and Chubu Electric Power climbed 16.2% and 7.4%, respectively. Renewable energy firm Renova advanced 3.05%.

CURRENCY NEWS: The dollar fetched 124.89 yen in Asian trade against 124.30 yen in New York late Friday.

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