Japan: Stocks fall in choppy trade

17 Nov 2022 , 02:07 PM

Japanese share market finished choppy session lower on Thursday, 17 November 2022, as risk sentiments subdued on following the broadly negative cues from global markets overnight amid geopolitical risks after a missile blast in Poland. Traders also reacted negatively to data showing Japans trade deficit widened in October, as the countrys import bill continued to rocket upward, fueled by a historic slide in the yen that has already helped push the economy back into reverse. At closing bell, the 225-issue Nikkei Stock Average index declined 97.73 points, or 0.35%, to 27,930.57. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 3 points, or 0.15%, to 1,966.28. Total 22 of 33 TSE sectors closed up, with Land Transportation (up 2.7%), Air Transportation (up 2.6%), Real Estate (up 1.8%), and Fishery, and Agriculture & Forestry (up 1.3%) issues being notable gainers. Nonferrous Metals (down 1.7%), Mining (down 1.4%), Electric Appliances (down 1.1%), and Wholesale Trade (down 1%) issues were notable losers. Shares of chip-related companies declined after grim signals from Micron Technology overnight about excess inventories and sluggish demand. ECONOMIC NEWS: Japans exports in October were up 25.3% on a year at 9.00 trillio yen, led by shipments of cars, chips and electronics parts. Imports jumped 53.5% from a year before to 11.16 trillion yen driven by crude oil, coal and liquefied natural gas. Resulting, trade gap grew to 2.16 trillion yen in October from 2.09 trillion yen in September, according to latest data released by the finance ministry on Thursday. Powered by Capital Market – Live News