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Business Recorder
4 days ago
- Business
- Business Recorder
Japan's Nikkei edges higher as chips gain; firmer yen sinks autos
TOKYO: Japan's Nikkei share average edged up in early trading on Tuesday, with chip-related stocks tracking overnight gains in their U.S. peers. However, fallers outnumbered risers on the benchmark index, and a stronger yen pressured automakers' stocks. The Nikkei advanced 0.5% to 37,651.27, as of 0127 GMT, set to gain after two sessions of losses. Among its 225 constituents, 102 rose, 121 fell, while two were unchanged. The broader Topix, by contrast, was up less than 0.1%. A subindex of growth shares added 0.3%, while value shares slipped 0.2%. 'This is not a case of strong buying leading the market,' said Maki Sawada, an equities strategist at Nomura Securities. Along with the headwind from a stronger yen, investors are also cautious about global trade developments, particularly between the U.S. and China, she said. Japan's Nikkei ends lower on worries about US-China trade tension, stronger yen U.S. President Donald Trump's administration wants countries to provide their best offer on trade negotiations by Wednesday, as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, Reuters reported. Trump and Chinese President Xi Jinping were likely to have a call soon to iron out trade differences, Treasury Secretary Scott Bessent said on Sunday, although Monday saw an angry rejection from China's Commerce Ministry of U.S. accusations that Beijing violated their trade agreement. The safe-haven yen strengthened as far as a one-week high of 142.40 per dollar on Tuesday. A firmer currency reduces the value of overseas revenues for Japan's exporters. Toyota Motor and Honda lost 0.5% and 0.8%, respectively. Toyota shares showed little reaction to domestic media reports that Toyota Industries would accept its $42 billion takeover bid. Toyota Industries rose 1%. Chip-testing equipment maker and Nvidia supplier Advantest led gains among semiconductor stocks, climbing 3.6%. Heavily-weighted Uniqlo owner Fast Retailing and Sony also helped lift the Nikkei, rising 1.8% and 2.3%, respectively.
Mint
4 days ago
- Automotive
- Mint
Japans Nikkei edges higher as chips gain; firmer yen sinks autos
TOKYO, - Japan's Nikkei share average edged up in early trading on Tuesday, with chip-related stocks tracking overnight gains in their U.S. peers. However, fallers outnumbered risers on the benchmark index, and a stronger yen pressured automakers' stocks. The Nikkei advanced 0.5% to 37,651.27, as of 0127 GMT, set to gain after two sessions of losses. Among its 225 constituents, 102 rose, 121 fell, while two were unchanged. The broader Topix, by contrast, was up less than 0.1%. A subindex of growth shares added 0.3%, while value shares slipped 0.2%. "This is not a case of strong buying leading the market," said Maki Sawada, an equities strategist at Nomura Securities. Along with the headwind from a stronger yen, investors are also cautious about global trade developments, particularly between the U.S. and China, she said. U.S. President Donald Trump's administration wants countries to provide their best offer on trade negotiations by Wednesday, as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, Reuters reported. Trump and Chinese President Xi Jinping were likely to have a call soon to iron out trade differences, Treasury Secretary Scott Bessent said on Sunday, although Monday saw an angry rejection from China's Commerce Ministry of U.S. accusations that Beijing violated their trade agreement. The safe-haven yen strengthened as far as a one-week high of 142.40 per dollar on Tuesday. A firmer currency reduces the value of overseas revenues for Japan's exporters. Toyota Motor and Honda lost 0.5% and 0.8%, respectively. Toyota shares showed little reaction to domestic media reports that Toyota Industries would accept its $42 billion takeover bid. Toyota Industries rose 1%. Chip-testing equipment maker and Nvidia supplier Advantest led gains among semiconductor stocks, climbing 3.6%. Heavily-weighted Uniqlo owner Fast Retailing and Sony also helped lift the Nikkei, rising 1.8% and 2.3%, respectively. This article was generated from an automated news agency feed without modifications to text.
Business Recorder
22-05-2025
- Business
- Business Recorder
Japan's Nikkei falls on profit-taking
TOKYO: Japan's Nikkei share average fell on Wednesday as traders locked in recent gains and appreciation in the yen sapped demand for exporters. Tokio Marine Holdings sank 2.6% and triggered a decline in insurance companies after forecasting a 12% drop in annual profit. Mizuho surged 2.7%, leading banks higher after announcing a plan to shed cross-shareholdings. The benchmark Nikkei has climbed 4.4% since US President Donald Trump announced sweeping tariffs on April 2, only to pause most of them as he sought bilateral trade deals. 'Stocks have been on a rise, but now that earnings have come to an end, I think there's a slight lack of catalysts in the market,' said Wataru Akiyama, a strategist at Nomura Securities. 'We may be seeing an adjustment in the stock market after the recent rally has led to short-term overheating.' Japan's export-reliant economy and equity market are still vulnerable to how trade talks with the US pan out. The nation's lead trade negotiator, Ryosei Akazawa, will head to the US on Friday for a third round of talks, the Nikkei newspaper reported. Data on Wednesday showed Japanese exports rose for the seventh straight month in April but shipments to the US fell, highlighting the toll of Trump's tariffs.
Economic Times
21-05-2025
- Business
- Economic Times
Japan's Nikkei falls on profit-taking, yen; Mizuho climbs
Japan's Nikkei share average fell on Wednesday as traders locked in recent gains and appreciation in the yen sapped demand for exporters. ADVERTISEMENT Tokio Marine Holdings sank 2.6% and triggered a decline in insurance companies after forecasting a 12% drop in annual profit. Mizuho surged 2.7%, leading banks higher after announcing a plan to shed cross-shareholdings. The benchmark Nikkei has climbed 4.4% since U.S. President Donald Trump announced sweeping tariffs on April 2, only to pause most of them as he sought bilateral trade deals. "Stocks have been on a rise, but now that earnings have come to an end, I think there's a slight lack of catalysts in the market," said Wataru Akiyama, a strategist at Nomura Securities. "We may be seeing an adjustment in the stock market after the recent rally has led to short-term overheating." Japan's export-reliant economy and equity market are still vulnerable to how trade talks with the U.S. pan out. The nation's lead trade negotiator, Ryosei Akazawa, will head to the U.S. on Friday for a third round of talks, the Nikkei newspaper reported. ADVERTISEMENT Data on Wednesday showed Japanese exports rose for the seventh straight month in April but shipments to the U.S. fell, highlighting the toll of Trump's tariffs. The Nikkei extended losses in the afternoon session as the yen advanced, closing 0.6% lower. The broader Topix lost 0.2%. ADVERTISEMENT There were 121 advancers against 102 decliners on the Nikkei, which is still down almost 6.5% this year. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Recorder
21-05-2025
- Automotive
- Business Recorder
Japanese shares little changed after recent gains; Mizuho surges
TOKYO: Japanese shares were little changed on Wednesday after recent gains, with traders looking for cues after the corporate earnings season. Mizuho surged 4.3%, leading banks higher after announcing a plan to shed cross-shareholdings, while Tokio Marine Holdings sank 2.7% and triggered a decline in insurance companies after forecasting a 12% drop in annual profit. The benchmark Nikkei has climbed 4.9% since US President Donald Trump announced sweeping tariffs on April 2, only to pause most of them as he sought bilateral trade deals. 'Stocks have been on a rise, but now that earnings have come to an end, I think there's a slight lack of catalysts in the market,' said Wataru Akiyama, a strategist at Nomura Securities. 'We may be seeing an adjustment in the stock market after the recent rally has led to short-term overheating.' Japan's export-reliant economy and equity market are still vulnerable to how trade talks with the US pan out. The nation's lead trade negotiator, Ryosei Akazawa, will head to the US on Friday for a third round of talks, the Nikkei newspaper reported. Data on Wednesday showed Japanese exports rose for the seventh straight month in April but shipments to the US fell, highlighting the toll of Trump's tariffs. Japan's Nikkei rises on resilient Wall Street, pause in yen rally The Nikkei slid 0.1% as of the midday break on Wednesday, while the broader Topix was up 0.19%. There were 155 advancers against 69 decliners on the Nikkei, which is still down almost 6% this year. Volumes were low on the Tokyo Stock Exchange's main board, with just 0.88 billion shares trading hands compared to the 30-day average of 2.16 billion. Toyota Motor gained 0.4% after the automaker unveiled its redesigned RAV4 sport utility vehicle, due to launch in North America, Japan, and Europe in the current business year.
