Market Outlook- 22 June 2021

On Monday, Japanese stocks fell to their lowest level in Japanese corporations are already speeding up vaccine four months, mirroring a sell-off on Wall Street last week rollouts for their staff, needs to establish its own sparked by new comments from a Federal Reserve consistent reason for a market resurgence. A consistent official that the US central bank may raise interest rates vaccine deployment could be a crucial factor in the sooner than expected. resuscitation of the economy.

With the exception of airlines, heavy selling was evident Ahead of the Olympic Games, Japanese corporate giants across almost all sectors in Japan, with all 33 industry are embracing the country's COVID-19 immunization sub-indices on the trading down. program.

The Nikkei stock average fell 3.29 percent, the most The decliners were led by rubber products, chemicals, since February 26, to settle at 28,010.93, after hitting its and insurance issues, while air transportation issues lowest level in a month. The Topix index as a whole fell defied the trend. 2.42 percent to 1,899.45, its lowest level in four months. As the US currency slid into the upper 109-yen area amid Heavyweights in the index fell, with Uniqlo owner Fast safe-haven demand, exporters , , Sharp Retailing falling 4.35 percent. Corp, and Motor lost 2-4 percent.

Tokyo Electron was down 4.02 percent, was Toyota Motor to telecom giant SoftBank Group are setting down 4.49 percent, and Shin-Etsu Chemical was down up clinics in a massive private-sector vaccination drive, 5.74 percent, all of which brought the Nikkei down. which begin on Monday.

The Japanese stock market is overreacting. First and foremost, rate hikes are evidence of a strengthening economy. According to Shuji Hosoi, a senior strategist at Daiwa Securities,

Top Gainers Top Losers

Company Last Price Change% Company Last Price Change%

Kawasaki Kisen ¥3,495.00 0.87% Kaisha Ltd. T&D Holdings Inc. ¥1,390 -6.27%

Nisshinbo Holdings ¥914.00 0.66% Inc. ¥5,060.00 -5.77% Corp.

Nissan Chemical Co. Ltd. ¥12,150.00 0.62% ¥5,240.00 -5.76% Corp.

Nippon Sheet Glass ANA Holdings Inc. ¥2,713.00 0.61% ¥590.00 -5.75% Co. Ltd.

Shin-Etsu Chemical Group Corp. ¥10,540.00 0.38% ¥18,060.00 -5.74% Co. Ltd. Market Outlook- 22 June 2021

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