Nikkei ends lower on year’s first trading day

TOKYO (AFP/APP): Tokyo’s benchmark Nikkei 225 index closed lower on Thursday, Japan’s first trading day of 2024, as the country reckons with the damage from a devastating earthquake.

The Nikkei 225 fell 0.53 percent, or 175.88 points, to end at 33,288.29, while the broader Topix index gained 0.52 percent, or 12.40 points, to 2,378.79.

“A wide range of stocks were sharply lower as major hi-tech stocks were sold at the US market, while buying was restrained by the Noto Peninsula quake,” Iwai Cosmo Securities said.

After closing 2023 on Friday, the Tokyo market reopened after its New Year break, during which the US market marked two straight days of falls.

The drop comes as central Japan faces a massive earthquake disaster that killed at least 78 people and reportedly left more than 50 missing.

Japan is also dealing with the collision of two planes at its main airport in Tokyo, which rattled the nation.

The dollar fetched 143.65 yen against 143.24 yen in New York.

In Tokyo trading, semiconductor shares were lower, with Tokyo Electron plunging 4.95 percent to 24,005 yen and Advantest falling 3.79 percent to 4,615 yen.

Sony Group dropped 2.35 percent to 13,095 yen while Uniqlo operator Fast Retailing lost 1.25 percent to 34,550 yen.