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Tokyo stock market in red, bad auto stocks

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Closing in red for the Tokyo Stock Exchange which saw the auto sector in sharp decline. The Nikkei index closed the session down by almost one percentage point to 27,013.25 points. What is still worrying is the evolution of the pandemic and especially the Delta variant. At the bottom of the list are thus finished the big Japanese cars, including Nissan and Mazda with drops of about 7%. Toyota was also down, losing 5.9 percent.

Meanwhile, at a macro level, Japan’s inflation measured by the consumer price index showed an annual decline of 0.3% in July compared to the -0.4% expected by analysts and the previous contraction of -0.5% (figure revised from + 0.2%). Excluding the components of food and energy prices, the consumer price index fell by 0.6%, again on an annual basis, but less than the -0.8% of the Bloomberg consensus.

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