Stock prices on the Tokyo Stock Exchange fell by more than 1% on Thursday due to a decline in the value of shares in automobile companies. The Nikkei index fell by 1.3% to 28,788.59 points. The Topix index dropped by 1.52% to 1,950.80 points.
"Shares of automobile companies are experiencing pressure today due to uncertainty regarding global demand for cars and the ongoing global shortage of semiconductors," said an analyst.
It is noted that shares of major Japanese automakers Toyota, Honda, and Nissan fell by 1.5%, 2.1%, and 3.4%, respectively. A similar drop in the prices of automobile companies' shares affected the general performance of the stock market in the country.
