Japanese stocks drop 1.5% as production data fans slowdown fears



By Sam Byford

TOKYO, June 30 (Reuters) - Japanese stocks dropped on Thursday, losing more than 1.5% after data showed that monthly industrial production fell the most in two years and the yen weakened to a 24-year low overnight, stoking fears of an economic slowdown.

The Nikkei share average .N225 fell steadily throughout the day and lost 1.54% by the end of trading. The broader Topix index .TOPX was down 1.20% on the day.

The Japanese yen JPY= rebounded slightly to trade at 136.17 to the U.S. dollar after hitting a new 24-year low overnight, breaching the key 137 mark.

Earlier in the day, Japan's Ministry of Economy, Trade and Industry released data that showed industrial production fell 7.2% in May, the second straight monthly decline and the biggest monthly drop in two years.

"May's weaker-than-expected industrial production cast a shadow," said Kazuo Kamiya, a strategist at Nomura Securities. "The market is in a position where negative factors are likely to be reflected."

Automakers and other exporters have been hit by shortages of parts and complications from the COVID-19 lockdowns in China.

Toyota Motor Corp 7203. , the world's largest car manufacturer, was down 1.32% after the company missed its May production target, which had already been revised downward.

"Hopes for a recovery from the components shortage have receded," said a market participant at a domestic securities firm. "The outlook wasn't bad, but it looks like the market is still sceptical."

The S&P 500 .SPX was down slightly overnight and is on track for its worst first-half performance in more than 50 years amid fears that central banks' measures to combat soaring inflation could lead to a recession.

Of the Nikkei's 225 components, 153 made losses, three were flat, and 69 made gains.

Energy was the worst-performing Nikkei sector, down 2.77%. Oil company Inpex Corp 1605.T closed 3.61% lower as Brent crude futures LCOc1 dropped 0.09% to $116.15 a barrel, on track for a second consecutive session of losses.

Financial services company Japan Exchange Group 8697.T was the worst performer, losing 6.2%. Semiconductor manufacturer Screen Holdings Co Ltd 7735.T was next at 5.37%.

Construction companies Taisei Corp and Kajima Corp were the top movers, up 1.68% and 1.57%, respectively.

Fujifilm Holdings was the best early performer after announcing an investment of $1.6 billion to expand its cell culture manufacturing capacity, but the stock lost its gains to trade down 0.11% on the day.


Reporting by Sam Byford and Tokyo markets team; Editing by Sherry Jacob-Phillips

Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.

Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.

Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.

Gumagamit kami ng cookies para mabigyan ka ng mahusay na karanasan sa aming website. Magbasa pa o palitan ang iyong cookie settings.

Babala sa Risk: Maaaring malugi ang iyong kapital. Maaaring hindi nababagay sa lahat ang mga produktong naka-leverage. Mangyaring isaalang-alang ang aming Pahayag sa Risk.