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Business Recorder
4 days ago
- Business
- Business Recorder
Japan's Topix hits record high on Wall Street rally, solid earnings
TOKYO: Japan's Topix index touched a record high on Thursday, tracking strong overnight gains on Wall Street, while solid corporate earnings from domestic firms reinforced expectations of wage growth. The broader Topix was up nearly 1% at 2,993.14, as of 0206 GMT. Earlier in the session, the benchmark index hit an all-time peak of 2,993.21. The Nikkei climbed 0.9% to 41,151.07. Both indexes were on track for a third consecutive session of gains, provided the current momentum holds. The three-day rally follows a sharp decline on Monday, when the Nikkei posted its largest drop in two months amid growing concerns over the U.S. economy and trade. 'The market is now convinced that the U.S. economy will not slow down,' said Hiroyuki Ueno, chief strategist, Sumitomo Mitsui Trust Asset Management. 'That is important for the Bank of Japan's decision process for raising interest rates. With solid corporate earnings results and a trend for wage increases, the market now expects the BOJ to raise rates by the end of the year,' Ueno said. However, government data released on Wednesday indicated that Japan's real wages fell for a sixth consecutive month in June, as inflation continued to outpace pay growth. The trend clouded the outlook for a BOJ policy shift, with wage growth seen as a key indicator for sustainable inflation. There is growing expectation that the U.S. Federal Reserve could begin cutting interest rates as early as September to support the economy. Shares of Mitsubishi UFJ Financial Group rose 1.8%, providing the biggest boost to the Topix, while Sumitomo Mitsui Financial Group gained 1.56%. M3's shares surged 22% after Goldman Sachs raised the target price for the medical services platform operator to 2,300 yen from 2,250 yen. Cosmetic maker Shiseido jumped 10%. Chip-making equipment maker Tokyo Electron fell for a third day, falling 2.7% on Thursday to weigh on the Nikkei the most. Chip-testing equipment maker Advantest fell 0.7%. Shares of chipmakers declined on concerns over a potential slowdown in global chip production after U.S. President Donald Trump said Washington would impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's Prime Market, 70% advanced and 26% fell, and 3% were flat.
Yomiuri Shimbun
4 days ago
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Hits Record High on Wall Street Rally, Solid Earnings
TOKYO, Aug 7 (Reuters) – Japan's Topix index touched a record high on Thursday, tracking strong overnight gains on Wall Street, while solid corporate earnings from domestic firms reinforced expectations of wage growth. The broader Topix .TOPX was up nearly 1% at 2,993.14, as of 0206 GMT. Earlier in the session, the benchmark index hit an all-time peak of 2,993.21. The Nikkei .N225 climbed 0.9% to 41,151.07. Both indexes were on track for a third consecutive session of gains, provided the current momentum holds. The three-day rally follows a sharp decline on Monday, when the Nikkei posted its largest drop in two months amid growing concerns over the U.S. economy and trade. 'The market is now convinced that the U.S. economy will not slow down,' said Hiroyuki Ueno, chief strategist, Sumitomo Mitsui Trust Asset Management. 'That is important for the Bank of Japan's decision process for raising interest rates. With solid corporate earnings results and a trend for wage increases, the market now expects the BOJ to raise rates by the end of the year,' Ueno said. However, government data released on Wednesday indicated that Japan's real wages fell for a sixth consecutive month in June, as inflation continued to outpace pay growth. The trend clouded the outlook for a BOJ policy shift, with wage growth seen as a key indicator for sustainable inflation. There is growing expectation that the U.S. Federal Reserve could begin cutting interest rates as early as September to support the economy. Shares of Mitsubishi UFJ Financial Group 8306.T rose 1.8%, providing the biggest boost to the Topix, while Sumitomo Mitsui Financial Group 8316.T gained 1.56%. M3's shares surged 22% after Goldman Sachs raised the target price for the medical services platform operator to 2,300 yen from 2,250 yen. Cosmetic maker Shiseido 4911.T jumped 10%. Chip-making equipment maker Tokyo Electron 8035.T fell for a third day, falling 2.7% on Thursday to weigh on the Nikkei the most. Chip-testing equipment maker Advantest 6857.T fell 0.7%. Shares of chipmakers declined on concerns over a potential slowdown in global chip production after U.S. President Donald Trump said Washington would impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's Prime Market, 70% advanced and 26% fell, and 3% were flat.
Economic Times
4 days ago
- Business
- Economic Times
Japan's Topix hits record high on Wall Street rally, solid earnings
Japan's Topix index touched a record high on Thursday, tracking strong overnight gains on Wall Street, while solid corporate earnings from domestic firms reinforced expectations of wage growth. ADVERTISEMENT The broader Topix was up nearly 1% at 2,993.14, as of 0206 GMT. Earlier in the session, the benchmark index hit an all-time peak of 2,993.21. The Nikkei climbed 0.9% to 41,151.07. Both indexes were on track for a third consecutive session of gains, provided the current momentum holds. The three-day rally follows a sharp decline on Monday, when the Nikkei posted its largest drop in two months amid growing concerns over the U.S. economy and trade. "The market is now convinced that the U.S. economy will not slow down," said Hiroyuki Ueno, chief strategist, Sumitomo Mitsui Trust Asset Management. ADVERTISEMENT "That is important for the Bank of Japan's decision process for raising interest rates. With solid corporate earnings results and a trend for wage increases, the market now expects the BOJ to raise rates by the end of the year," Ueno said. However, government data released on Wednesday indicated that Japan's real wages fell for a sixth consecutive month in June, as inflation continued to outpace pay growth. The trend clouded the outlook for a BOJ policy shift, with wage growth seen as a key indicator for sustainable inflation. ADVERTISEMENT There is growing expectation that the U.S. Federal Reserve could begin cutting interest rates as early as September to support the economy. Shares of Mitsubishi UFJ Financial Group rose 1.8%, providing the biggest boost to the Topix, while Sumitomo Mitsui Financial Group gained 1.56%. ADVERTISEMENT M3's shares surged 22% after Goldman Sachs raised the target price for the medical services platform operator to 2,300 yen from 2,250 yen. Cosmetic maker Shiseido jumped 10%. ADVERTISEMENT Chip-making equipment maker Tokyo Electron fell for a third day, falling 2.7% on Thursday to weigh on the Nikkei the most. Chip-testing equipment maker Advantest fell 0.7%. Shares of chipmakers declined on concerns over a potential slowdown in global chip production after U.S. President Donald Trump said Washington would impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's Prime Market, 70% advanced and 26% fell, and 3% were flat. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
4 days ago
- Business
- Time of India
Japan's Topix hits record high on Wall Street rally, solid earnings
Japan's Topix index touched a record high on Thursday, tracking strong overnight gains on Wall Street, while solid corporate earnings from domestic firms reinforced expectations of wage growth. The broader Topix was up nearly 1% at 2,993.14, as of 0206 GMT. Earlier in the session, the benchmark index hit an all-time peak of 2,993.21. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The Nikkei climbed 0.9% to 41,151.07. Both indexes were on track for a third consecutive session of gains, provided the current momentum holds. The three-day rally follows a sharp decline on Monday, when the Nikkei posted its largest drop in two months amid growing concerns over the U.S. economy and trade. Live Events "The market is now convinced that the U.S. economy will not slow down," said Hiroyuki Ueno, chief strategist, Sumitomo Mitsui Trust Asset Management. "That is important for the Bank of Japan's decision process for raising interest rates. With solid corporate earnings results and a trend for wage increases, the market now expects the BOJ to raise rates by the end of the year," Ueno said. However, government data released on Wednesday indicated that Japan's real wages fell for a sixth consecutive month in June, as inflation continued to outpace pay growth. The trend clouded the outlook for a BOJ policy shift, with wage growth seen as a key indicator for sustainable inflation. There is growing expectation that the U.S. Federal Reserve could begin cutting interest rates as early as September to support the economy. Shares of Mitsubishi UFJ Financial Group rose 1.8%, providing the biggest boost to the Topix, while Sumitomo Mitsui Financial Group gained 1.56%. M3's shares surged 22% after Goldman Sachs raised the target price for the medical services platform operator to 2,300 yen from 2,250 yen. Cosmetic maker Shiseido jumped 10%. Chip-making equipment maker Tokyo Electron fell for a third day, falling 2.7% on Thursday to weigh on the Nikkei the most. Chip-testing equipment maker Advantest fell 0.7%. Shares of chipmakers declined on concerns over a potential slowdown in global chip production after U.S. President Donald Trump said Washington would impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange 's Prime Market, 70% advanced and 26% fell, and 3% were flat.
Business Recorder
29-07-2025
- Business
- Business Recorder
Nikkei falls on corporate outlook concerns
TOKYO: Japan's Nikkei share average ended lower for a third straight session on Tuesday, as concerns over the domestic corporate outlook led investors to lock in profits from a recent rally. The Nikkei fell 0.79% to 40,674.55. The broader Topix declined 0.75% to 2,908.64. Japan is in the middle of its earnings season, and investors are cautious as a 15% tariff to be imposed on its exports to the United States could hit corporates, said Hiroyuki Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management. The tariff, part of the trade deal Japan struck with the US last week, is lower than the 25% that US President Donald Trump had earlier threatened to impose on the country. That, and expectations that Prime Minister Shigeru Ishiba would step down sent the Nikkei to its highest level in a year last week, Ueno said. 'The market hoped someone who promotes measures to stimulate the economy would replace him (Shigeru Ishiba),' he said. Ishiba vowed to remain in his post after his ruling coalition suffered a bruising defeat in upper house elections, prompting some in his own party to doubt his leadership as the opposition weighed a no-confidence motion. On Tuesday, chip-related stocks led the decline, with Lasertec falling 8.3% to become the worst performer on the Nikkei. Tokyo Electron fell 1.2% to become the biggest drag for the Nikkei. Advantest slipped 1%.
