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Japan stock market finished session steep down on Thursday, 21 October 2021, as selloff pressure triggered across the board amid concerns about negative impact of rising crude oil prices on the corporate profits. Meanwhile, slight strengthening of the yen against the U.S. dollar, worries over rising inflation and supply chain issues also dampened sentiments. At closing bell, the 225-issue Nikkei Stock Average stumbled 546.97 points, or 1.87%, to 28,708.58. The broader Topix index of all First Section issues on the Tokyo Stock Exchange retreated 26.86 points, or 1.32%, to 2,000.81. Trading volume turnover on the main section stood at 1.04 billion shares worth 2.45 trillion yen. All 33 industry groups ended down along with the Topix, with worst performing sectors were Air Transportation (down 2.1%), Precision Instruments (down 2%), Electric Appliances (down 1.9%), Transportation Equipment (down 1.9%), Marine Transportation (down 1.9%), and Metal Products (down 1.7%). Shares of automobile manufacturers and air transportation issues were hit hard today after crude oil futures surpassed $84 per barrel to a fresh seven-year high. Toyota Motor declined 2.4% and Suzuki Motor fell 2.4%. ANA Holdings dropped 2.3% and Japan Airlines sagged 1.8%. Shares of export-related companies skidded due to slight strengthening of the yen against the U.S. dollar. Tokyo Electron fell 4.6% and Screen Holdings was down 2.9%. CURRENCY NEWS: The dollar advanced to levels mid 114 yen in Tokyo trading on Wednesday. The dollar stood at 114.34-35 yen, up from 114.02-06 yen on Tuesday. The euro was at 132.92-93 yen, up from 132.87-87 yen. Powered by Capital Market - Live News
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