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Japan Nikkei ends below psychological level of 28,000
10-Jun-22   17:01 Hrs IST
Japan share market finished session significantly lower on Friday, 10 June 2022, snapping a five days winning run, as investors opted to secure profits on tracking negative lead from Wall Street overnight and on caution ahead of the release of U.S. consumer price data which will guides the Federal Reserve's policy tightening path.

At closing bell, the 225-issue Nikkei Stock Average was down 422.24 points, or 1.49%, to 27,824.29. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 25.96 points, or 1.32%, to 1,943.09.

All 33 TOPIX sectors ended the session lower, with Machinery (down 2.1%), Precision Instruments (down 2.1%), Oil & Coal Products (down 2%), and Pharmaceutical (down 1.9%) issues suffered the largest percentage losses.

ECONOMIC NEWS: Producer prices in Japan were up 9.1 percent year-on-year year in May, the Bank of Japan said earlier today.

CURRENCY NEWS: The dollar moved around mid 133 yen in late Tokyo trading on Friday, after Japanese government and central bank officials warned of the yen's recent depreciation. Japan's government and central bank said they were concerned by recent sharp falls in the yen in a rare joint statement, the strongest warning to date that Tokyo could intervene to support the currency. At 5 p.m., the dollar stood at 133.61-61 yen, up from 133.47-47 yen on Thursday.

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