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Title: Japan stocks lower at close of trade; Nikkei 225 down 1.71%

Mar 08, 2022 02:35AM ET

By: AnalysisWatch

Japan's stocks were down after the close on Tuesday as declines in the transportation, automobiles, parts, and textiles industries dragged stocks down.

At the closing bell in Tokyo, the Nikkei 225 dropped 1.71% and touched a new 52-week closing low.

Cyber Agent Inc. was the best performer in the Nikkei 225, rising 2.65% or 36.00 points to close at 1,395.00 points. Meanwhile, AGC Inc. gained 2.27% or 95.00 points to end at 4,280.00, and Nippon Express Co, Ltd. rose 2.01% or 150.00 points to 7,610.00 in late trade.

Toho Zinc Co, Ltd. was the worst performer, falling 13.19% or 403.00 points to close at 2,652.00 in late trade. Hino Motors, Ltd. fell 12.21% or 91.00 points to close at 654.00 and Mitsubishi Materials Corp. fell 8.60% or 196.00 points to close at 2,082.00.

On the Tokyo Stock Exchange, falling stocks outweighed rising ones by 2995 to 647, and 131 ended unchanged.

Shares of Hino Motors, Ltd. fell to a 52-week low, dropping 12.21% or 91.00 to 654.00.

The Nikkei Volatility Index, which tracks the embedded volatility of Nikkei 225 options, increased 6.54% to 29.82, touching a new 1-month high.

Crude oil for delivery in April rose 3.06%, or $3.65, to $123.05 a barrel. Elsewhere in commodity trading, Brent oil for delivery in May rose 3.58% or $4.41 to $127.62 a barrel, while the April gold futures contract rose 1.47% or 29.30 to settle at $2,025.20 a troy ounce.

The USD/JPY pair rose 0.12% to 115.43, while the EUR/JPY rose 0.20% to 125.40.

Futures on the US Dollar Index fell 0.10% to 99.20.

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