TOKYO – Tokyo stocks slipped this morning, extending the previous day’s rout, as investors await the release of earnings reports from major firms including Toyota and SoftBank.
The benchmark Nikkei 225 fell 0.64%, or 182.25 points, to 28,426.34, while the broader Topix index sank 0.93%, or 17.67 points, to 1,888.25, with both indexes giving up initial gains.
The Nikkei shed more than 3% yesterday, with tech companies taking a major hit owing to concerns about United States inflation that could force the Federal Reserve to hike interest rates.
Shares in Toyota, the world’s top-selling automaker, were down 0.22% at ¥8,323 (RM315.42), while conglomerate SoftBank Group lost 1.90% to ¥9,327 despite a report saying it is expected to post a full-year net profit of ¥4.9 trillion.
Nissan plunged 9.73% to ¥522.3 after missing forecasts for a profit of ¥133 billion as it was hit by a global shortage of chips for its vehicles.
The US dollar fetched ¥108.74 compared with ¥108.62 in New York late yesterday.
On Wall Street, the Dow ended down 1.4%, the S&P 500 retreated 0.9%, and the Nasdaq was down 0.1%. – AFP, May 12, 2021
_Summit_in_Tokyo._Facebook-PMO_Malaysia_pic..png)
