Japan Nikkei falls 1.5%

1 Sep 2022 , 04:51 PM

Japanese share market finished session at one-month low on Thursday, 01 September 2022, on tracking weak global markets after several Federal Reserve and European Central Bank officials reiterated their support for further interest-rate hikes to combat inflation. Meanwhile, weaker than expected Japans manufacturing activity data for August also weighed on sentiment. The final au Jibun Bank Japan Manufacturing Purchasing Managers Index (PMI) fell to a seasonally adjusted 51.5 in August from 52.1 in the prior month. The reading remained above the 50-mark that separates contraction from expansion, but was the weakest growth rate since September 2021. At closing bell, the 225-issue Nikkei Stock Average index declined by 430.06 points, or 1.53%, to 27,661.47. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 27.67 points, or 1.41%, to 1,935.49. Chip giants Tokyo Electron, Screen Holdings and Advantest lost 3-4% after reports that the U.S. has begun to impose fresh restrictions on exports of advanced chips necessary for AI-related applications to Russia and China. Nippon Steel gained 1.3% after reports that Toyota Motor has agreed to raise the price of steel materials used for cars. Toyota shares gave up 2.3%. CURRENCY NEWS: The dollar climbed to levels around 139 yen in Tokyo trading on Thursday. At 5 p.m., the dollar stood at 139.27-28 yen, up from 138.59-60 yen at the same time Wednesday. Powered by Capital Market – Live News