Home / Market Update / Global Stock Market / Japanese stocks fell to the lowest level in two weeks due to the sale of technology shares
Japan

Japanese stocks fell to the lowest level in two weeks due to the sale of technology shares

Japanese stocks posted their worst daily performance on Tuesday in more than two weeks as index-heavy tech stocks fell after a sell-off in global markets. Still, travel-related stocks rose when Japan reopened its borders to regular tourism.

The Nikkei index fell 2.64 percent after returning to trading from the weekend, which extended for three days. The index opened much below the 27000 level and then extended its losses to close at 26401.25.

The broader Topix fell 1.86%, its worst intraday performance since Sept. 26.

This move seemed to affect Japanese companies involved in semiconductor production, as Tokyo Electron fell 5.49 percent and robotics maker Fanuc Corp fell 3.93 percent.

Shares related to the travel sector performed well as investors expected recovery after resuming regular inbound tourism this week.

Department store chain Takashimaya rose 3.33 percent, East Japan Railway Co. 2.27 percent, and the Topix airline sub-index rose 2.24 percent.

Check Also

BTC Holds Below $100,000, But a Breakout Seems Imminent

At less than 2% below $100,000, Bitcoin (BTC) is trading. In November, the price of …