The Tokyo Stock Exchange went down on Monday morning, dominated by profit taking following seven sessions of increases, and cooled by the decline on Wall Street at the end of last week and a slight rebound in the yen.
The flagship Nikkei index fell 0.5% to 27,775.86 points around 00:50 GMT, while the broader Topix index lost 0.48% to 1,946.64 points.
“The Japanese market is expected to struggle this week,” Okasan Online Securities commented in a note, adding that the Nikkei, which climbed 4.2% last week, “has started to show signs of overheating and profit taking. are likely to prevail”.
The Tokyo market also followed the New York Stock Exchange, which ended down on Friday, scalded by some disappointing company results and poor indicators raising fears of a deterioration in the economic situation.
The rise of the yen once morest the dollar at the end of last week also weighed on the securities of major Japanese exporting companies, such as car manufacturers.
Today’s Values
SONY: electronics giant Sony lost 2.37% to 11,740 yen. Sony, which is due to announce its 2022/23 first quarter results at the end of the week, had delivered a cautious forecast for the full year in May, due in particular to disruptions in supply chains, aggravated by confinements. in China.
On the side of oil and currencies
Oil started to rise once more: around 00:40 GMT the price of a barrel of American WTI rose 0.6% to 95.27 dollars and that of a barrel of Brent from the North Sea regained 0.62% to 103.84 dollars.
On the currency market, the yen started to fall once more once morest the dollar, following regaining ground on Friday during the day. A dollar was worth 136.56 yen around 00:50 GMT once morest 136.12 yen on Friday at 21:00 GMT.
The Japanese currency also fell slightly once morest the euro, which was trading for 139.13 yen once morest 139.02 yen at the end of last week.
One euro was worth 1.0185 dollars, once morest 1.0213 dollars on Friday at 9:00 p.m. GMT.
mac/cn
