Japan share market finished session lower on Tuesday, 20 April 2021, as investors were disheartened by falls in Wall Street overnight and a high yen against the dollar. Meanwhile, resurgence of novel coronavirus cases in Japan and their possible negative impact on the economy were also weighing on investors.At closing bell, the 225-issue Nikkei Stock Average was down 584.99 points, or 1.97%, to 29,100.38. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 30.31 points, or 1.55%, to 1,926.25.
Total 32 sub-indexes of the 33 sector sub-indexes on the Tokyo exchange traded lower, with Air Transportation, Real Estate, Warehousing & Harbor Transportation Services, Machinery, Electric Appliances, Construction, and Transportation Equipment issues being notable losers.
SoftBank Group shares declined after the UK government reportedly said it will look into the national security implications of US graphic chips maker Nvidia's purchase of British chip designer ARM Holdings, which was acquired by SoftBank Group in 2016. SoftBank Group said last year it is selling Arm to Nvidia for up to US$40 billion. Arm produces microprocessors used in many smartphones.
ECONOMIC NEWS: Japan Industrial Production Slides 1.3% On Month In February- Japan's industrial production decreased a seasonally adjusted 1.3% month-on-month in February, final data from the Ministry of Economy, Trade and Industry showed on Monday. In the initial estimate, industrial production fell 2.1%. Shipment declined 1.3% monthly in February. According to the initial estimate, shipment fell 1.5%. Inventories fell 0.7% in February versus 1% decline in the initial estimate. Inventory ratio grew 1% in February, as estimated. On a yearly basis, industrial production decreased 2% in February. In the initial estimate, output fell 2.6%.
CURRENCY NEWS: The Japanese yen traded at 108.32 per dollar after strengthening from above 108.6 against the greenback yesterday.
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