TOKYO, March 4 (Reuters) - Japan's Nikkei index on Thursday
dropped to its lowest in one month, as investors sold off
heavyweights including SoftBank Group and Fast Retailing,
tracking a slump in U.S. futures during the Asian trade.
The Nikkei share average .N225 closed 2.13% weaker at
28,930.11, the lowest since Feb. 5, while the broader Topix
.TOPX lost 1.04% to 1,884.74.
"There are uncertainties in the move of U.S. bond yields,
which has made the market outlook unclear," said Masahiro
Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset
Management.
Resurgent worries about rising U.S. bond yields also hit
global shares as investors maintained a cautious stance and
awaited to see if Federal Reserve Chair Jerome Powell will
address concerns about the risk of a rapid rise in long-term
borrowing costs. MKTS/GLOB
E-mini S&P futures EScv1 slipped 0.45% while the futures
for the Nasdaq, the unequivocal leader of the post-pandemic
rally, fell 0.74% NQcv1 to a two-month low.
In Japan, Fast Retailing 9983.T , the Uniqlo brand clothing
store operator, fell 5.45%, dragging the index the most, while
SoftBank Group 9984.T dropped 5.19% and Tokyo Electron
8035.T lost 2.43%.
SoftBank Group's fall came in the wake of news that British
supply chain finance firm Greensill Capital, which is backed by
the Japanese conglomerate, was in talks to sell large parts of
its business. Hitachi Zosen 7004.T surged 19.48% after local media
reported that the energy and infrastructure company had
developed a high-performance solid-state battery.
Ricoh 7752.T jumped 15.51% after being untraded with a
glut of bids following the announcement that the office
equipment maker's plan to buy back about 100 billion yen
($934.40 million) worth of its own shares. Shipping firms advanced, with Kawasaki Kisen 9107.T rising
5.99%, Mitsui OSK Lines 9104.T adding 3.55% and Nippon Yusen
9101.T climbing 2.76%.
($1 = 107.0200 yen)