Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Japanese shares end higher; Nomura plunges on flagging $2 bln loss

Stock MarketsMar 29, 2021 15:10
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

TOKYO, March 29 (Reuters) - Japanese shares closed higher on
Monday on optimism around domestic corporate earnings and an
economic recovery in the U.S., although concerns about a
potential $2 billion loss flagged by brokerage Nomura Holdings
limited gains.
The Nikkei share average .N225 rose 0.71% to close at
29,384.52, while the broader Topix .TOPX rose 0.46% to close
at 1,993,34 after turning negative during the session.
Shares of Japan's largest brokerage Nomura Holdings 8604.T
tumbled 16.33%, their biggest percentage fall since November
2011, after the company warned of the possible loss at a U.S.
subsidiary.
"Investors were concerned there will be more financial
institutions that could be hurt by similar losses and that
impacted investor appetite," said Hideyuki Ishiguro, senior
strategist, Daiwa Securities.
Worsening sentiment, Credit Suisse CSGN.S also said its
first-quarter results could suffer a material impact after the
bank started exiting positions after a U.S.-based hedge fund
defaulted on the margin calls it made. Nomura's slump weighed on Topix the most, with Mitsubishi
UFJ Financial Group 8306.T , down 1.84%, and Sumitomo Mitsui
Financial Group 8316.T , down 1.07%, also pressuring the index.

In a bright spot, tech shares advanced, with Tokyo Electron
8035.T jumping 3.32%, Advantest 6857.T rising 2.6% and Sony
6758.T adding 1.75%.
"Investors are buying companies, particularly manufacturers
that would benefit from the recovery of the global economy, and
whose earnings are set to rise in the coming years," said
Shigetoshi Kamada, general manager for the research department
of Tachibana Securities.
Nikkei heavyweight Fast Retailing 9983.T , an operator of
the Uniqlo brand clothing shops, rose 0.86%.
The stocks that gained the most among the top 30 core Topix
names were Kao 4452.T up 3.02%, followed by Daikin Industries
6367.T , up 2.79%.
Nikkei heavyweight SoftBank Group 9984.T , down 1.71%, was
one of the worst performers among the top 30 Topix names.
There were 120 advancers on the Nikkei index against 100
decliners.




Japanese shares end higher; Nomura plunges on flagging $2 bln loss
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email