Japan Nikkei extends losses to 4th day

Japanese share market finished lower for the fourth straight session on Monday, 05 September 2022, with investors opted for risk-averse amid worries over global economic slowdown.

Meanwhile, disappointing economic data also weighed on sentiment, with the final au Jibun Bank Japan Services purchasing managers' index falling to a seasonally adjusted 49.5 in August, marking the first contraction since March.

At closing bell, the 225-issue Nikkei Stock Average index declined by 31.23 points, or 0.11%, to 27,619.61. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 1.38 points, or 0.07%, to 1,928.79.

Total 18 of 33 TSE sub-indexes closed down, with Land Transportation, Air Transportation, Transportation Equipment, Fishery, Agriculture & Forestry, Foods, and Real Estate issues being notable losers, while Oil & Coal Products, Iron & Steel, Mining, and Machinery issues were notable gainers.

Shares of Uniqlo clothing store owner Fast Retailing fell 1.2% after reporting same store sales data for August. Regional lender Jimoto Holdings slumped 8.5% after flagging an annual net loss.

CURRENCY NEWS: The dollar was firmer above 140.50 yen in late Tokyo trading on Monday after easing earlier in the day. At 5 p.m., the dollar stood at 140.56-57 yen, up from 140.24-24 yen at the same time Friday.

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