Tokyo Stock Exchange closes mixed amid falling technology and yen buoyed

Tokyo Stock Exchange closes mixed amid falling technology and yen buoyed

The Tokyo Stock Exchange reaped a mixed close on Monday, in which its main index, the Nikkei, fell 0.11%, affected by the decline of technology companies on fears of prolonged monetary tightening in the United States, and the boost of exporters in the face of the weakness of the yen.

The Nikkei, which groups the 225 most representative titles of the market, fell 29.52 points, to 27,423.96 integers.

On the other hand, the broader selective Topix, which includes the firms in the main section, those with the largest capitalization, rose 0.22% or 4.38 points, to 1,992.78 units.

The Tokyo parquet opened lower, discouraged by the contagion effect of a fall in the US technology sector on concerns that the monetary tightening of the central bank of that country will last longer than desired after its latest inflation data were worse than expected.

The Nikkei trimmed losses throughout the trading, buoyed by the yen’s current weakness, which benefits Japanese exporters’ competitiveness and foreign remittances, although it was not enough to turn the indicator gains.

The iron sector and the steel, brokerages and construction companies posted the biggest gains of the day, while information and communication, retail and air travel posted the biggest losses.

Semiconductor analysis equipment maker Lasertec accounted for the largest trading volume, down 2.48%.

Chipmaker Tokyo Electron (TYO:8035) was left by 1,88 %; the telecommunications and investment group Softbank (TYO:9984) lost 2.25%, and the automotive company Toyota (TYO:7203) fell by 0,05 %.

Video game developer and publisher Nintendo (TYO:7974) dropped 1.86%, while the multinational technology and entertainment company Sony (TYO:6758) rose 0.39%.

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In the main section, 555 businesses were down versus 1,211 that rose, while 66 closed unchanged.

The trading volume amounted to 2.3 trillion yen (about 16,000 million euros).

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