Tokyo Stocks End Sharply Lower On Domestic Output Concerns, U.S. Recession Woes

Sumaira FH Published June 30, 2022 | 05:40 PM

TOKYO, (UrduPoint / Pakistan Point News - 30th Jun, 2022 ) --:Tokyo stocks ended sharply lower Thursday following data here showing factory output fell the most in two years in May, with sentiment also hit by ongoing concerns over a possible recession in the United States.

The 225-issue Nikkei Stock Average dropped 411.56 points, or 1.54 percent, from Wednesday to close the day at 26,393.04.

The broader Topix index, meanwhile, lost 22.

75 points, or 1.20 percent, to finish at 1,870.82.

Local dealers said data released earlier Thursday showing Japan's industrial production in May logged its steepest fall in two years amid supply issues and dented investor sentiment.

Japan's industrial output in May saw the sharpest decline in two years, sliding 7.2 percent from last month, as the auto industry was hit by COVID-19-related supply issues, the government said in a report on Thursday.