Oil and aviation put Japanese stock market considerably lower | Financial

The prospect of longer lockdowns is also depressing oil demand, leading to lower oil prices. The airlines were also hit hard again by fears of a slower recovery in air traffic.

The Nikkei in Tokyo finished 2 percent lower at 28,405.52 points. It was the fourth loss day in a row. Inpex, Japan’s largest oil producer, and airline ANA Holdings lost nearly 6 percent. Tokyo Electron and Screen Holdings won 5 percent and 1.7 percent. Business newspaper Nikkei reported that the two chip companies are going to work with the Japanese government on a project to invest in domestic production facilities for the new generation of chips.

Nikon up

Nikon thicknesses more than 6 percent. Investors expect the Japanese optical and electronic equipment maker to take advantage of the plans of American chipmaker Intel to ramp up production. Intel will invest $ 20 billion in new factories in the American state of Arizona, among other things. The investments should help Intel to compete better with rivals such as Taiwanese TSMC (minus 3 percent) and South Korean Samsung (minus 0.9 percent).

The Hang Seng index in Hong Kong dropped 2.2 percent in the meantime. Fosun Pharma, the Chinese partner of pharmaceutical companies Pfizer and BioNTech, fell nearly 5 percent after news that Hong Kong and Macau have temporarily stopped vaccinating Pfizer / BioNTech corona vaccines due to vial defects. Geely continued the fall and plummeted 8 percent. The Chinese car manufacturer already had disappointing annual results the day before. The large Chinese internet concern Tencent, which will announce the figures after the closing bell in Hong Kong, fell more than 1 percent.

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