TOKYO: Japan’s Nikkei index on Thursday dropped to its lowest in one month, as investors sold off heavyweights including SoftBank Group and Fast Retailing, tracking a slump in US futures during the Asian trade.

The Nikkei share average closed 2.13% weaker at 28,930.11, the lowest since Feb. 5, while the broader Topix lost 1.04% to 1,884.74.

E-mini S&P futures slipped 0.45% while the futures for the Nasdaq, the unequivocal leader of the post-pandemic rally, fell 0.74% to a two-month low.

In Japan, Fast Retailing, the Uniqlo brand clothing store operator, fell 5.45%, dragging the index the most, while SoftBank Group dropped 5.19% and Tokyo Electron lost 2.43%.

Hitachi Zosen surged 19.48% after local media reported that the energy and infrastructure company had developed a high-performance solid-state battery.

Ricoh jumped 15.51% after being untraded with a glut of bids following the announcement that the office equipment maker’s plan to buy back about 100 billion yen ($934.40 million) worth of its own shares.

Shipping firms advanced, with Kawasaki Kisen rising 5.99%, Mitsui OSK Lines adding 3.55% and Nippon Yusen climbing 2.76%.—Reuters