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Nikkei lower on profit-taking and Shanghai lockdown

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Tokyo, March 28 (EFE).- The main index of the Tokyo Stock Exchange, the Nikkei, fell 0.73% this Monday after investors opted for profit-taking, after a 9-day upward streak, and the concern about the confinement in Shanghai due to the increase in covid cases.

The Nikkei, which brings together the 225 most representative titles in the market, fell 205.95 points to 27,943.89 integers.

The Topix, which includes the firms in the first section, those with the largest capitalization, fell 0.41% or 8.10 points, to stand at 1,973.37 units.

The Tokyo floor opened lower and broke the winning streak accumulated during the previous nine sessions, the longest since September 2019, due to the desire of investors to fix profit after the accumulated rise of 11.87% in the period and ahead of the end of the Japanese fiscal year on the 31st.

Concern about the impact on China’s economy of the confinement decreed since Monday in Shanghai, one of the country’s most important financial markets, was also influenced by the increase in covid-19 infections in the region.

These factors weighed more than the devaluation of the yen against the dollar, a favorable trend for Japanese exporters and at its best level in six years (the low band of 123 yen) after announcing the Bank of Japan (BoJ) a purchase operation of state bonds.

The sectors that registered the main setbacks were maritime transport, services and non-ferrous metals.

The Nippon Yusen browser (NYK Line) brought together the largest trading volume on the day and lost 1.89%. The competition between Mitsui OSK and Kawasaki Kisen (K-Line) fell by 1.35% and 3.33%, respectively.

Semiconductor component analysis equipment maker Lasertec is 2.84%, and Tokyo Electron chips are 1.3%.

On the other hand, the Japanese vehicle manufacturer Toyota advanced 0.59%, while the video game developer and distributor Nintendo rose 0.44%.

In the first section, 774 companies rose against 1,290 that fell, while 116 closed unchanged.

The trading volume amounted to 2.58 trillion yen (19,147 million euros).

c) EFE Agency

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