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Japanese Market Sharply Lower

(RTTNews) - The Japanese stock market is sharply lower on Thursday, with the benchmark Nikkei 225 treading below the 29,100 level, driven by a huge selloff in technology shares. It also tracked weak cues overnight from Wall Street on renewed concerns over bond yields.

The benchmark Nikkei 225 Index is losing 487.35 points or 0.65 percent to the day's low of 29,071.75. Japanese shares closed higher on Wednesday.

Market heavyweight SoftBank Group is losing more than 5 percent and Uniqlo operator Fast Retailing is down more than 4 percent. Among automakers, Honda is declining almost 1 percent and Toyota is edging down 0.4 percent.

In the tech space, Advantest is losing nearly 2 percent and Tokyo Electron is lower by more than 1 percent. In the banking sector, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are edging down 0.4 percent each.

Among the major exporters, Mitsubishi Electric is adding almost 1 percent, while Canon is losing more than 2 percent, Panasonic is declining more than 1 percent and Sony is down almost 3 percent.
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