TOKYO: Japan’s Nikkei share average fell on Monday, with technology stocks among the biggest decliners, although the benchmark index escaped steeper losses as the yen retreated from a one-month high.
The Nikkei ended the day down 0.48% at 36,215.75, recovering the psychologically key 36,000 mark after dropping below it for the first time since Aug. 13 earlier. At its lowest point in the session, the Nikkei plunged 3.14%.
Semiconductor-sector stocks led decliners on the benchmark throughout the day, following a sharp slide among Wall Street peers on Friday. Chip-making equipment giant Tokyo Electron sank 2.27% to be the biggest loser in index point terms. Chip-testing machinery maker Lasertec was the biggest percentage decliner, dropping 4.8%.
The Topix index ended the day down 0.68%.
Japanese stocks started on the back foot following a sell-off in US equities on Friday, after monthly US payrolls figures confirmed the jobs market was losing momentum.
“The results of the employment report, despite not revealing a sudden worsening of the US economy, left traders feeling deeply uncertain about the outlook,” said Maki Sawada, an equities strategist at Nomura Securities.
Source: Brecorder
