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Japan stock market finished session lower on Wednesday, 28 July 2021, snapping three sessions of winning streak, as investors opted to secure recent profit on tracking negative lead from Wall Street overnight and concerns rose over the country's economic recovery outlook after a rapid surge in COVID-19 cases in Japan. At closing bell, the 225-issue Nikkei Stock Average declined 388.56 points, or 1.39%, to 27,581.66. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 18.39 points, or 0.95%, to 1,919.65. Trading volume turnover in the 1st section increased to 1,037 million shares from 938 million shares in previous session. Trading value turnover increased to 2,205.52 billion yen from 1,997.15 billion yen in previous session. Total 26 of 33 sectors sub-indexes on the Tokyo exchange ended lower, with bottom performing sectors were Metal Products (down 2.6%), Information & Communication (down 2.1%), Services (down 2%), Air Transportation (down 1.7%), Land Transportation (down 1.6%), Electric Appliances (down 1.3%), and Securities & Commodities Futures (down 1.2%), while top performing sectors included Iron & Steel (up 0.6%) and Oil & Coal Products (up 0.4%). The fall in Tokyo market came after US peers dipped overnight ahead of the Fed's policy meeting later in the day. Negative sentiment was also generated after reports that COVID-19 cases jumped to 2,848 in Tokyo on Tuesday, the highest since the 2,520 recorded on Jan. 7. Shares of Shin-Etsu Chemical dipped despite fairly upbeat earnings, while Apple suppliers slipped following the US tech giant's results which forecast revenue growth would slow. Makuake shares locked at lower circuit, after the crowd funding firm slashed its profit outlook for the current year. Shares of Mitsubishi Motors advanced after the automobile manufacturer reported an optimistic earnings report for its April-June quarter and amended upward its earnings outlook for the business year through March 2022. CURRENCY NEWS: The Japanese yen traded at 109.95 per dollar, stronger than levels above 110.4 seen against the greenback earlier this week. Powered by Capital Market - Live News
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