AGL 5.27 Decreased By ▼ -0.23 (-4.18%)
ANL 8.45 Decreased By ▼ -0.04 (-0.47%)
AVN 75.82 Increased By ▲ 0.02 (0.03%)
BOP 5.15 Decreased By ▼ -0.09 (-1.72%)
CNERGY 4.41 Decreased By ▼ -0.01 (-0.23%)
EFERT 81.30 Decreased By ▼ -0.33 (-0.4%)
EPCL 49.29 Decreased By ▼ -0.41 (-0.82%)
FCCL 12.40 Decreased By ▼ -0.39 (-3.05%)
FFL 5.51 Increased By ▲ 0.01 (0.18%)
FLYNG 6.82 Increased By ▲ 0.09 (1.34%)
FNEL 4.68 Decreased By ▼ -0.02 (-0.43%)
GGGL 9.27 Increased By ▲ 0.85 (10.1%)
GGL 14.88 Increased By ▲ 0.93 (6.67%)
HUMNL 6.18 Increased By ▲ 0.10 (1.64%)
KEL 2.57 Increased By ▲ 0.01 (0.39%)
LOTCHEM 27.73 Increased By ▲ 0.08 (0.29%)
MLCF 23.57 Decreased By ▼ -0.22 (-0.92%)
OGDC 71.91 Increased By ▲ 0.81 (1.14%)
PAEL 15.13 Increased By ▲ 0.10 (0.67%)
PIBTL 4.83 Decreased By ▼ -0.07 (-1.43%)
PRL 15.66 Decreased By ▼ -0.32 (-2%)
SILK 1.07 Decreased By ▼ -0.03 (-2.73%)
TELE 8.85 Increased By ▲ 0.03 (0.34%)
TPL 7.34 Increased By ▲ 0.26 (3.67%)
TPLP 19.49 Increased By ▲ 0.23 (1.19%)
TREET 21.08 Increased By ▲ 0.23 (1.1%)
TRG 137.25 Increased By ▲ 0.65 (0.48%)
UNITY 16.30 Decreased By ▼ -0.25 (-1.51%)
WAVES 9.35 Increased By ▲ 0.10 (1.08%)
WTL 1.38 Increased By ▲ 0.03 (2.22%)
BR100 4,164 Increased By 6.3 (0.15%)
BR30 15,350 Increased By 10.3 (0.07%)
KSE100 41,698 Increased By 46.7 (0.11%)
KSE30 15,402 Increased By 22.3 (0.15%)
Follow us

TOKYO: Japan’s Topix ended lower on Tuesday, dragged down by stocks that went ex-dividend, while the Nikkei inched up as investors bought back the benchmark after its underperformance against Topix following the Bank of Japan’s decision to only buy Topix-linked exchange traded funds.

The Topix lost 0.78% to close at 1,977.86, while the Nikkei index snapped early losses to inch up 0.16% to end at 29,432.70.

Topix heavyweights automaker Toyota Motor fell 1.22%, while mobile phone operator KDDI lost 3.11%. Nikkei heavyweight Uniqlo clothing shop operator Fast Retailing jumped 3.17%.

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 fell 0.49%, Sumitomo Mitsui Financial Group and Mizuho Financial Group slipped 0.96%, respectively.

Nomura Holdings, which plunged 16% on Monday after it flagged $2 billion in losses at a US subsidiary, lost 0.66%. The airline and shipping industry gained the most among the 33 sector sub-indexes on the Tokyo exchange, with ANA Holdings jumping 3.49% and Japan Airlines rising 2.53%. Kawasaki Kisen jumped 5.19% and Nippon Yusen gained 3.61%.

J.Front Retailing Co, up 5.24%, was the top gainer on the Nikkei index, followed by Kawasaki Kisen and CyberAgent Inc, up 4.04%.

Japan Post Holdings, down 6.41 %, was the largest percentage loser on the Nikkei, followed by KDDI, and Sumitomo Corp down 3.06%. There were 89 advancers on the Nikkei index against 128 decliners.

“Overall the market was affected by the shares that went ex-dividend,” said Koichi Kurose, chief strategist, Resona Asset Management. “Investors who have bought the Topix since the Bank of Japan’s announcement earlier this month to only buy the Topix-linked ETFs are now selling those and buying back the Nikkei.”

Comments

Comments are closed.

Japan’s Topix falls, Nikkei up

Economy: Dar, others take stock of situation

Weekly SPI inflation unchanged on average

Xi calls for oil trade in yuan

Unilateral hike in rates of SEZs’ plots disallowed

FTO orders FBR to release soybean consignments

Russia could cut oil production over West’s ‘stupid’ price cap

Oil rebounds, but still on track for biggest weekly declines

ECs: SBP further tightening data reporting mechanism

Wapda asked to shift troops from Dasu hospital

Matters adjudicated by courts: FBR maintains no data bank