Tokyo's Nikkei Index Ends Lower

Umer Jamshaid Published March 15, 2024 | 05:53 PM

Tokyo's key Nikkei index closed lower on Friday with the market weighed down by losses in semiconductor-linked shares

Tokyo, (UrduPoint / Pakistan Point News - 15th Mar, 2024) Tokyo's key Nikkei index closed lower on Friday with the market weighed down by losses in semiconductor-linked shares.

The benchmark Nikkei 225 index fell 0.26 percent, or 99.74 points, to end at 38,707.64, while the broader Topix index climbed 0.35 percent, or 9.21 points, to 2,670.80.

"In the US, major semiconductor stocks such as NVIDIA fell. Chip shares also dropped in Japan, including Tokyo Electron," Iwai Cosmo Securities said.

"But selling was limited ahead of the Bank of Japan policy meeting next week."

The dollar traded at 148.

28 yen, unchanged from the level in New York on Thursday.

Among major shares, Tokyo Electron tumbled 4.86 percent to 35,410 yen while Advantest dropped 1.38 percent to 6,436 yen.

Nippon Steel slid 0.22 percent to 3,578 yen after US President Joe Biden said he is against the proposed sale of US Steel to the Japanese firm.

Nissan jumped 3.19 percent to 581.6 yen and Honda rose 1.74 percent to 1,782.5 yen after they said they would hold a press conference.

The two firms said in a joint statement they had agreed to explore a strategic partnership in electric vehicles and other areas.