Japan's Nikkei index fell today, Thursday, by up to 2% in the first trading session in 2024, with airline, construction and utility stocks affected by the two plane collision that occurred on Tuesday and the strong earthquake that struck western Japan earlier this week.
Chip-related stocks affected the Nikkei index severely on Thursday, as they tracked the impact of American technology stocks, which recorded a weak performance at the end of the session yesterday, Wednesday, while the stocks of airlines, operators of nuclear-powered power plants, and construction were damaged by the earthquake and the collision accident.
The Nikkei Index trimmed its losses to close 0.53% lower at 33,288.29 points.
The earthquake that struck the western coast of Japan on New Year's Day killed at least 81, and rescuers are still searching for survivors.
Shares of Hokuriku Electric Company, which operates the Shika nuclear power plant located near the epicenter of the earthquake, closed down 2.2% after falling more than 8%.
Tokyo Electric Power shares also reduced losses by 7%, closing down 2.23%.
Advantest and Tokyo Electron shares, which are linked to the chip industry, fell 3.79% and 4.95%, respectively.
As for the shares of construction companies Kajima and Taisei, they rose approximately 4% each.
After falling 2%, Japan Airlines shares closed up 0.77%, and the company's shares were subjected to a flurry of early selling orders after Tuesday's accident when a plane belonging to the company collided with another belonging to the Japanese Coast Guard at Haneda Airport in Tokyo.
In contrast to the Nikkei index, the broader Topix index rose 0.52%, as investors sought stocks with higher dividends after the launch of a revised plan for tax-exempt investments this year.
