Japan share market finished session at 14-months low on Thursday, 27 January 2022, extending losses to third straight day, as risk sentiments dented after hawkish comments from the US Federal Reserve, which indicated that it plans to begin raising interest rates soon, citing elevated inflation and a strong labor market. Meanwhile, selloff pressure fueled further amid concerns about the raging spread of the coronavirus omicron variant and its impact on the pace of economic recovery from the pandemic.
At closing bell, the 225-issue Nikkei Stock Average stumbled 841.03 points, or 3.11%, to 26,170.30, its lowest close since 24 Nov 2020. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 49.41 points, or 2.61%, to 1,842.44.
Among individual stocks, electric motor maker Nidec fell 6.2%, after its third-quarter operating profit dipped as rising material prices and a shortage of semiconductors squeezed margins.
Trading firm Marubeni gained 1.4% after announcing the sale of the grains business of its U.S. unit Gavilon to commodities trader Glencores Viterra arm.
CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, rose 0.92% to 96.827. The Japanese yen traded at 114.84 per dollar, weakening from an earlier level around 114.45.
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