Tokyo stocks fell from record highs on Friday, with the Nikkei index suffering its biggest daily drop in more than three years, stock data for July 12 showed.
Stocks fell as exporters were hit by a stronger yen and a sharp overnight drop in U.S. technology shares, prompting traders to take profits on recent gains.
Japan’s benchmark Nikkei 225 index ended the day down 1,033.34 points, or 2.45%, to 41,190.68, its steepest drop since Feb. 26, 2021. The broader Topix index lost 34.61 points, or 1.18%, to 2,894.56.
In the top-tier stocks section of the stock exchange (Prime), the leading positions were occupied by stocks of insurance companies, household appliance manufacturers and shipping companies.
Growth leaders: Nitori Holdings Co Ltd (+4.52%), Sumitomo Realty & Development Co. (+3.88%) and Sapporo Holdings (+3.46%).
Top losers: Seven & i Holdings (-6.49%), Tokyo Electron (-6.18%) and Advantest Corp (-5.57%).
At the top of the list of most traded stocks in Japan, the leadership for the 61st consecutive trading day is held by shares of Nippon Telegraph & Telephone Corp (250.56 million), selling more than 200 million shares per session for the fifth day (256th consecutive session in the top 5). In second place for the eighth day are shares of Mitsubishi Heavy Industries (68.42 million) (24d). In third place, also for the eighth day, are shares of the country’s leading financial group, Mitsubishi UFJ Financial Group (61.95M). In fourth place are shares of the e-commerce company Rakuten (29.3 million) (1 pence). The top five trading leaders were closed by shares of today’s leader of the fall (-6.49%) Seven & i Holdings (26.66 million), which reached the top for the first time since the start of our observations in October 2021.
The total trading volume of shares of Japanese market leaders decreased slightly and amounted to 436.89 million, which is, however, higher than the daily average for June (347.6 million).
Source: Rossa Primavera
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