Japan's Nikkei falls as US stock futures decline, firmer yen weighs
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Japan's Nikkei share average fell on Thursday as a stronger yen prompted a sell-off of exporters, while declines in U.S. stock futures hurt sentiment.The Nikkei fell 0.7% to close at 38,173.09. The broader Topix slipped 0.2%."Investors sold Japanese equities as they bet Wall Street would be weak again later in the day, after seeing declines of U.S. stock futures in Asia hours," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory."But the Nikkei closed above the 38,000 level for a fourth consecutive day, it seems that the index has cleared the first hurdle for further gains."The S&P 500 ended lower overnight, with investors spooked by Middle East tensions, while a tame inflation report calmed concerns around tariff-driven price pressures and traders awaited more details on the China-U.S. trade talks.S&P and Nasdaq futures each fell about 0.3% in Asia trade.The yen strengthened about 0.6% to trade at 143.67 per dollar.Uniqlo-brand owner Fast Retailing dropped 2.6% to drag the Nikkei the most.Automakers declined as the yen gained, with Toyota Motor and Honda Motor losing 1.5% and 0.9%, respectively.A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese currency.The yen's strength this week has worked to keep the Nikkei below 38,500, Mizuho Securities analyst Yutaka Miura said."The yen's appreciation trend is expected to continue moderately, which is likely to be a factor in limiting the upside of Japan stocks," he said, predicting the Nikkei will move in the 36,000-39,000 range this month.Bucking the trend among exporters, Nintendo rose 1.1% after the game maker said it had sold more than 3.5 million Switch 2 units in the first four days after its launch, making the console the company's fastest-selling gaming device to date.Sumitomo Pharma was far and away the Nikkei's top percentage gainer, surging by its daily limit of 17% after Daiwa Securities upgraded the stock.
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Indian Express
4 hours ago
- Indian Express
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NDTV
4 hours ago
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India.com
7 hours ago
- India.com
If Pakistan attacks again, India can now defend with..., India's S-400 air defence system is now...
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