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Weak Open Expected For Japan Stocks

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

A flat to lower open is expected for Japan stocks on Friday, on the heels of Wall Street's decline overnight. the benchmark U.S. index fell after six straight gains, as energy consumption concerns weighed on the market.

Japan's market closed lower on Thursday.

The benchmark Nikkei 225 Average was down 67.19 points or 0.68 percent at 9,804.49.

Among the Nikkei components, there were 55 closing higher, 159 were lower and 11 finished unchanged.

The broader Topix index of all issues listed on the Tokyo Stock Exchange First Section declined 4.59 points or 0.5 percent to 867.70.

Among the sectors of interest, the shippers were in focus after Nippon Yusen announced it would present a share offering in which it hoped to raise 142.49 billion yen. Nippon Yusen shares were down 13 yen or 3.98 percent on the news, while Mitsui OSK Lines was down 8 yen or 1.48 percent and Kawasaki Kisen Kaisha was down 3 yen or 1.38 percent.

The oil stocks were among the few gainers, with Inpex up 6,000 yen or 0.79 percent and Nippon Oil was up 10 yen or 2.51 percent. Showa Shell was down 15 yen or 1.84 percent.

Trading volume remained heavy for Japan Airlines, which was down 3 yen or 2.73 percent while All Nippon Airlines was down 5 yen or 2.13 percent.

Computer services firm CSK Holdings jumped 48 yen or 13.68 percent.

In overseas trading, Wall Street's winning streak ended on Thursday. The Dow Jones Industrial Average closed lower after six straight sessions of gains. The Dow ended down 93.79 points or 0.91 percent at 10,197.47, the Nasdaq Composite Index was down 17.88 points or 0.83 percent at 2,149.02 and the Standard & Poor's 500 index was down 11.27 points or 1.03 percent at 1,087.24.

Most other Asia/Pacific region markets closed lower on Thursday.


Hong Kong's Hang Seng index was down 229.64 points or 1.01 percent at 22,397.57.

In China, the Shanghai Composite index fell 2.25 points or 0.07 percent to 3,172.95.

India's SENSEX/BSE 30 index was down 153.57 points or 0.91 percent at 16,696.03.

The Jakarta Composite index in Indonesia was up 16.40 points or 0.68 percent at 2,420.28.

In South Korea, the KOSPI/Seoul Composite index was down 22.09 points or 1.39 percent at 1,572.73.

The Taiwan Weighted Index rose 2.87 points or 0.04 percent to 7,670.93.

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