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Japanese shares fall, dragged by ex-dividend shares, banks

Published 03/30/2021, 10:35 AM
Updated 03/30/2021, 10:40 AM
© Reuters.

© Reuters.

TOKYO, March 30 (Reuters) - Japanese shares fell on Tuesday,
dragged down by stocks that went ex-dividend and financial
shares, although the losses were capped by investor appetite for
scooping up discounted stocks.
Nikkei share average .N225 slipped 0.25% to 29,312.72 by
0153 GMT, while the broader Topix .TOPX lost 1.27% to
1,967.99.
"The market fell due to the sell-off of shares that traded
ex-dividend," said Chihiro Ohta at the investment research and
services for SMBC Nikko Securities.
"But strong demand from cash rich investors who wanted to
rotate their investment targets limited the declines."
The banking and securities sectors retreated amid fears that
global banks could lose more than $6 billion from the downfall
of Archegos Capital. Mitsubishi UFJ Financial Group 8306.T fell 1.92%, Sumitomo
Mitsui Financial Group 8316.T lost 2.3% and Mizuho Financial
Group 8411.T slipped 2.57%.
Nomura Holdings 8604.T , which plunged 16% on Monday after
it flagged $2 billion in losses at a U.S. subsidiary, lost
2.74%.
Renesas Electronics 6723.T lost 2.73% after the chip maker
said damage from a fire at its chip-making plant in northeast
Japan was more extensive than first thought. The airline industry gained the most among the 33 sector
sub-indexes on the Tokyo exchange, with ANA Holdings 9202.T
jumping 3.33% and Japan Airlines 9201.T rising 2.53%.
The largest percentage gainers on the Nikkei were Kawasaki
Kisen Kaisha 9107.T , up 4.34%, followed by J.Front Retailing
Co Ltd 3086.T gaining 4.27 %.
The largest percentage losers on the index were Japan Post
Holdings Co 6178.T , which fell 6.88 %, followed by Haseko
1808.T losing 4.37 % and Mitsui Chemicals 4183.T down by
3.96%.

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