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Nikkei Plunges: Pharma Stock Hit Hard
4 Mar
Summary
- Nikkei 225 experienced a significant drop of 3.08%.
- Sumitomo Dainippon Pharma stock saw a steep decline.
- Crude oil prices increased on Tuesday's trading.
On Tuesday, Japanese stocks experienced a notable decline, with the Nikkei 225 index closing down 3.08%. This downturn was largely driven by significant losses within the Paper & Pulp, Transport, and Communication sectors.
Among the day's worst performers was Sumitomo Dainippon Pharma Co Ltd, which saw its shares plummet by 19.10%, closing at 1,959.00. TDK Corp and Mazda Motor Corp also faced substantial drops.
In contrast, some companies bucked the trend. Tokyo Gas Co., Ltd. reached all-time highs, with its stock rising 2.24% to close at 7,861.00. Osaka Gas Co., Ltd. and Recruit Holdings Co Ltd also posted gains.
Meanwhile, commodity markets showed upward movement. Crude oil prices for April delivery increased by 2.54% to $73.04 a barrel, and Brent crude for May delivery rose by 3.19% to $80.22 a barrel. Gold futures also saw a slight increase.
