Introduction
The Nikkei 225, Japan’s benchmark index, fell 1.42% on Monday to hit a new one-month low. The losses were led by the Chemical, Petroleum & Plastic, Steel, and Shipbuilding sectors. In this article, we will discuss the reasons behind the Nikkei 225’s decline and take a closer look at the best and worst performers.
The Nikkei 225’s Decline
At the close in Tokyo, the Nikkei 225 fell 1.42%, with the Chemical, Petroleum & Plastic, Steel, and Shipbuilding sectors leading the losses. The decline was largely due to concerns about rising inflation and interest rates, as well as the ongoing COVID-19 pandemic.
The Chemical sector was down 3.51%, with companies such as Asahi Kasei Corp (TYO:3407) and Mitsui Chemicals, Inc. (TYO:4183) falling 4.79% and 4.35%, respectively. The Petroleum & Plastic sector was down 3.32%, with Inpex Corp (TYO:1605) falling 4.38%. The Steel sector was down 3.09%, with JFE Holdings, Inc. (TYO:5411) falling 4.50%. Finally, the Shipbuilding sector was down 2.81%, with Mitsui E&S Holdings Co Ltd (TYO:7003) falling 6.21%.
Best Performers on the Nikkei 225
Despite the overall decline, some companies managed to perform well on the Nikkei 225. Unitika, Ltd. (TYO:3103) was the best performer, rising 0.95% or 2.00 points to trade at 213.00 at the close. Ebara Corp. (TYO:6361) also performed well, adding 0.74% or 40.00 points to end at 5,480.00. Secom Co., Ltd. (TYO:9735) was up 0.65% or 52.00 points to 8,053.00 in late trade.
Worst Performers on the Nikkei 225
On the other hand, some companies had a rough day on the Nikkei 225. As mentioned earlier, Asahi Kasei Corp (TYO:3407) fell 4.79%, while Mitsui Chemicals, Inc. (TYO:4183) fell 4.35%. Inpex Corp (TYO:1605) fell 4.38%, while JFE Holdings, Inc. (TYO:5411) fell 4.50%. Finally, Mitsui E&S Holdings Co Ltd (TYO:7003) fell 6.21%.
Conclusion
The Nikkei 225 fell 1.42% on Monday due to concerns about rising inflation and interest rates, as well as the ongoing COVID-19 pandemic. The Chemical, Petroleum & Plastic, Steel, and Shipbuilding sectors led the losses. However, some companies managed to perform well, including Unitika, Ltd. (TYO:3103), Ebara Corp. (TYO:6361), and Secom Co., Ltd.
