The Nikkei star index, which had appreciated 2% on Tuesday, dropped 1.28% to 28,044.45 points. The losses of the Topix extended index were more measured (-0.66% to 1,895.24 points).
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The Tokyo Stock Exchange ended Wednesday in sharp decline, canceling a good part of its gains of the day before against a disappointing American indicator combined with renewed concerns about inflation in the United States.
The Nikkei star index, which had appreciated 2% on Tuesday, dropped 1.28% to 28,044.45 points. The losses of the Topix extended index were more measured (-0.66% to 1,895.24 points).
The New York Stock Exchange had folded at the end of Tuesday, depressed by the sharper-than-expected drop in US housing starts figures in April, troubling hopes of a robust return to growth amid concerns renewed around inflation.
“Japanese stocks are exposed to massive sales when there are many uncertainties,” summarized Mitsushige Akino of Ichiyoshi Asset Management, quoted by Bloomberg.
On the Chinese markets side, Shanghai also finished in the red (-0.51%) while Shenzhen remained slightly in the green. The Hong Kong Stock Exchange was closed due to a public holiday.
On the side of values
TOYOTA IN LACK
Japanese auto giant Toyota (-1.36% to 8,699 yen) on Tuesday announced plans to cut vehicle production in June due to a “parts shortage”. Three production lines from two of its factories in northeastern Japan will be affected in total, he said in a statement.
NOMURA TURNS THE ARCHEGOS PAGE
The Japanese financial group Nomura Holdings (+ 0.05% to 589.4 yen) on Tuesday revised slightly the final impact on its accounts of the debacle of the American investment fund Archegos at the end of March.
Its additional losses related to an “American customer” are now estimated at around 600 million dollars, against a previous estimate of 570 million dollars. This amount comes on top of an exceptional loss of $ 2.3 billion in connection with Archegos already suffered by Nomura in its previous quarter. The group has now liquidated all its positions concerning this client.
On the currency and oil side
The yen lost some ground against the dollar, at the rate of one dollar for 108.98 yen around 07:10 GMT, against 108.90 yen on Tuesday at 21:00 GMT.
The Japanese currency retreated more sharply against the euro, which was worth 133.38 yen against 133.10 yen the day before.
The euro rose against the greenback, at a rate of one euro for 1.2236 dollars against 1.2222 dollars on Tuesday at 9:00 p.m. GMT.
Oil prices were down sharply, having reached their highest the day before since early March.
After 07:00 GMT the price of a barrel of US crude WTI fell 1.27% to 64.66 dollars and that of a barrel of Brent from the North Sea lost 1.16% to 67.91 dollars.
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