Japan share market finished session lower on Monday, 12 April 2021, due to mounting profit-taking amid concerns over the outlook for Japan's economy as COVID-19 cases continued to rise with more prefecture could lead to increased public and business restrictions.
At closing bell, the 225-issue Nikkei Stock Average declined 229.33 points, or 0.77%, to 29,538.73. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 4.88 points, or 0.25%, to 1,954.59.
Total 18 sub-indexes of the 33 sector sub-indexes on the Tokyo exchange traded lower, with Marine Transportation, Nonferrous Metals, Mining, Oil & Coal Products, Precision Instruments, Electric Appliances, and Fishery, Agriculture & Forestry Services issues being notable losers, while Warehousing & Harbor Transportation Services, Electric Power & Gas, Iron & Steel, and Real Estate issues were notable gainers.
Shares of Yaskawa Electric tumbled 420 yen, or 7.1%, to 5,490 yen after it forecast a lower-than-expected net operating profit for the year through February 2022 on Friday.
Aeon dropped 131 yen, or 4.1%, to 3,081 yen after the retailer reported its first annual net loss in 12 years and the highest deficit of 71.02 billion yen ($648 million) since going public.
Some sporting goods makers and retailers rose after Hideki Matsuyama won the Masters at Augusta National Golf Club on Sunday to become the first player from Japan to claim a men's major championship. Mizuno climbed 39 yen, or 1.8%, to 2,254 yen. Major sports goods retailer Alpen gained 60 yen, or 2.4%, to 2,590 yen.
ECONOMIC NEWS: Japan Producer Prices Up 1% On Year In March- Japan producer prices were up 1% on year in March, the Bank of Japan said on Monday, following the upwardly revised 0.6% contraction in February (originally -0.7%). On a monthly basis, producer prices jumped 0.8%, up from 0.6% in the previous month. Export prices were up 2.8% on month and 5.5% on year, the bank said, while import prices advanced 3.8% on month and 5.6% on year.
CURRENCY NEWS: The Japanese yen traded at 109.43 per dollar, stronger than levels above 110.5 against the greenback seen last week.
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