TOKYO, March 30 Reuters Japanese shares fell on Tuesday, dragged down by stocks that went exdividend and financial shares, although the losses were capped by investor appetite for scooping up discounted stocks.
Nikkei share average slipped 0.25 to 29,312.72 by 0153 GMT, while the broader Topix lost 1.27 to 1,967.99.
The market fell due to the selloff of shares that traded exdividend, said Chihiro Ohta at the investment research and services for SMBC Nikko Securities.
But strong demand from cash rich investors who wanted to rotate their investment targets limited the declines.
The banking and securities sectors retreated amid fears that global banks could lose more than 6 billion from the downfall of Archegos Capital.
Mitsubishi UFJ Financial Group fell 1.92, Sumitomo Mitsui Financial Group lost 2.3 and Mizuho Financial Group slipped 2.57.
Nomura Holdings, which plunged 16 on Monday after it flagged 2 billion in losses at a U.S. subsidiary, lost 2.74.
Renesas Electronics lost 2.73 after the chip maker said damage from a fire at its chipmaking plant in northeast Japan was more extensive than first thought.
The airline industry gained the most among the 33 sector subindexes on the Tokyo exchange, with ANA Holdings jumping 3.33 and Japan Airlines rising 2.53.
The largest percentage gainers on the Nikkei were Kawasaki Kisen Kaisha, up 4.34, followed by J.Front Retailing Co Ltd gaining 4.27 .
The largest percentage losers on the index were Japan Post Holdings Co,…