Tokyo Stocks Close Lower On US Tech Rout 25th May, 2022
Umer Jamshaid Published May 25, 2022 | 12:08 PM
Tokyo stocks closed lower on Wednesday after US shares mostly retreated following a profit warning from the owner of Snapchat that shocked the tech sector
Tokyo, (UrduPoint / Pakistan Point News - 25th May, 2022 ) :Tokyo stocks closed lower on Wednesday after US shares mostly retreated following a profit warning from the owner of Snapchat that shocked the tech sector.
The benchmark Nikkei 225 index ended down 0.26 percent, or 70.34 points, at 26,677.80, while the broader Topix index slipped 0.09 percent, or 1.68 points, to 1,876.58.
The tech sector was again in the firing line after Snap, the parent of messaging app Snapchat, provided a gloomy economic outlook, sending its shares diving more than 40 percent.
Overnight in New York, the tech-heavy Nasdaq Composite dropped 2.4 percent, with the broad-based S&P ending down 0.8 percent while the Dow closing up 0.2 percent.
"Tech shares in Tokyo were particularly hit by falls in the US Nasdaq index, while bargain-hunting purchases provided some support to the market," Okasan Online Securities said.
Mizuho Securities said investors in Japanese shares also took "a wait-and-see attitude" ahead of the US Federal Reserve's minutes due later in the day.
The Dollar fetched 126.94 Yen in Asian trade, against 126.86 yen in New York on Tuesday.
ANA Holdings ended down 0.56 percent at 2,502 yen, despite comments by its chief executive that revenue would likely be boosted by a recovery of inbound tourism after the expected lifting of Japan's strict Covid-19 border rules.
Its rival Japan Airlines ended up 0.22 percent at 2,274 yen.
Sony Group dropped 1.45 percent to 11,205 yen, Panasonic fell 0.91 percent to 1,143.5 yen, and SoftBank Group closed down 1.71 percent at 5,102 yen.
Recent Stories
SC orders end of encroachments in Karachi
Nazish Jahangir denies viral screenshots, calls them fake
Govt likely to hike electricity price once again
Bismah Maroof announces immediate retirement from international cricket
Malala expresses unwavering support for Gaza people
Selection committee dissolved over Pakistan women cricket team's poor performanc ..
Punjab CM Maryam Nawaz in police uniform at Chung police center
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
More Stories From Business
-
London stocks hit new record on blockbuster mining takeover bid
17 minutes ago -
Sialkot University, Ministry of Climate Change, Ethiopian embassy host business forum
37 minutes ago -
Govt likely to hike electricity price once again
2 hours ago -
Mining giant BHP launches bid to take over rival Anglo American
3 hours ago -
Gold rates up by Rs500 per tola to Rs242,500
4 hours ago -
Tokyo stocks end lower after Meta results
4 hours ago
-
EXCHANGE RATES FOR CURRENCY NOTES
5 hours ago -
Foreign exchange rates
6 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
7 hours ago -
Today Gold Rate in Pakistan 25 April 2024
8 hours ago -
Meta profits soar but costs of AI cause worry
8 hours ago -
Mired in crisis, Boeing reports another loss
17 hours ago