Japanese shares fall, dragged by ex-dividend shares, banks

J. FRONT RETAILING

30/03/2021 03:35

TOKYO, March 30 (Reuters) - Japanese shares fell on Tuesday,
dragged down by stocks that went ex-dividend and financial
shares, although the losses were capped by investor appetite for
scooping up discounted stocks.  
     Nikkei share average  .N225  slipped 0.25% to 29,312.72 by
0153 GMT, while the broader Topix  .TOPX  lost 1.27% to 
1,967.99.
    "The market fell due to the sell-off of shares that traded
ex-dividend," said Chihiro Ohta at the investment research and
services for SMBC Nikko Securities. 
    "But strong demand from cash rich investors who wanted to
rotate their investment targets limited the declines."
    The banking and securities sectors retreated amid fears that
global banks could lose more than $6 billion from the downfall
of Archegos Capital.   urn:newsml:reuters.com:*:nL1N2LR003  urn:newsml:reuters.com:*:nL1N2LR1O7
    Mitsubishi UFJ Financial Group  8306.T  fell 1.92%, Sumitomo
Mitsui Financial Group  8316.T  lost 2.3% and Mizuho Financial
Group  8411.T  slipped 2.57%. 
    Nomura Holdings  8604.T , which plunged 16% on Monday after
it flagged $2 billion in losses at a U.S. subsidiary, lost
2.74%. 
    Renesas Electronics  6723.T  lost 2.73% after the chip maker
said damage from a fire at its chip-making plant in northeast
Japan was more extensive than first thought.  urn:newsml:reuters.com:*:nL1N2LR03T
    The airline industry gained the most among the 33 sector
sub-indexes on the Tokyo exchange, with ANA Holdings  9202.T 
jumping 3.33% and Japan Airlines  9201.T  rising 2.53%.
    The largest percentage gainers on the Nikkei were Kawasaki
Kisen Kaisha  9107.T , up 4.34%, followed by J.Front Retailing
Co Ltd  3086.T  gaining 4.27 %. 
    The largest percentage losers on the index were Japan Post
Holdings Co  6178.T , which fell 6.88 %, followed by Haseko
 1808.T  losing 4.37 % and Mitsui Chemicals  4183.T  down by
3.96%.

 (Reporting by Junko Fujita; Editing by Shailesh Kuber)
 ((813-4563-2711, junko.fujita@thomsonreuters.com, Reuters
Messaging:junko.fujita.reuters.com@reuters.net;))