Latest news with #Switch-maker
Mint
8 hours ago
- Business
- Mint
Nikkei hits four-month high on weaker yen, defying geopolitical risks
(Updates with closing prices) SINGAPORE, June 18 (Reuters) - Japan's Nikkei share average touched a four-month high on Wednesday, boosted by a weaker yen even as investors kept a wary eye on the rapidly escalating conflict between Israel and Iran. The Nikkei ended the day up 0.9% at the session's high of 38,885.15, a level last seen on February 20. The broader Topix rose 0.8%. The biggest boost to the Nikkei came from Uniqlo-brand owner Fast Retailing, chip-testing equipment maker Advantest and Switch-maker Nintendo, which rose 2%, 1.2% and 6.6%, respectively. "Japan remains one of our favoured equity markets," said Ben Powell, chief APAC investment strategist at the BlackRock Investment Institute. "Ongoing shareholder-friendly reforms to boost profitability support our tactical overweight on Japanese stocks," he said. "We prefer unhedged equity exposures, given the yen's tendency to strengthen during periods of market stress." The Nikkei steadily extended its advance as the day progressed despite heightened worries among market participants over the potential for a more direct U.S. military involvement in the Middle East. Reuters reported, citing three U.S. officials, that the U.S. military is deploying more fighter aircraft to the region and extending the deployment of other warplanes. U.S. President Donald Trump called for Iran's "unconditional surrender". The safe-haven yen strengthened 0.2% versus the U.S. dollar on Wednesday but touched a one-week low earlier in the session, following a 1.3% slide over the previous three days. A weaker Japanese currency tends to boost shares of exporters, as it increases the value of overseas profits in yen terms. "The weaker yen is providing support," said Maki Sawada, an equities strategist at Nomura Securities. "A solid floor seems to have formed for the Nikkei, but the market is cautious about developments in the Middle East and will be sensitive to any headlines." (Reporting by Ankur Banerjee in Singapore and Kevin Buckland in Tokyo; Editing by Harikrishnan Nair and Rashmi Aich)
Economic Times
8 hours ago
- Business
- Economic Times
Nikkei hits four-month high on weaker yen, defying geopolitical risks
Japan's Nikkei share average touched a four-month high on Wednesday, boosted by a weaker yen even as investors kept a wary eye on the rapidly escalating conflict between Israel and Iran. ADVERTISEMENT The Nikkei ended the day up 0.9% at the session's high of 38,885.15, a level last seen on February 20. The broader Topix rose 0.8%. The biggest boost to the Nikkei came from Uniqlo-brand owner Fast Retailing, chip-testing equipment maker Advantest and Switch-maker Nintendo, which rose 2%, 1.2% and 6.6%, respectively. "Japan remains one of our favoured equity markets," said Ben Powell, chief APAC investment strategist at the BlackRock Investment Institute. "Ongoing shareholder-friendly reforms to boost profitability support our tactical overweight on Japanese stocks," he said. "We prefer unhedged equity exposures, given the yen's tendency to strengthen during periods of market stress." The Nikkei steadily extended its advance as the day progressed despite heightened worries among market participants over the potential for a more direct U.S. military involvement in the Middle East. ADVERTISEMENT Reuters reported, citing three U.S. officials, that the U.S. military is deploying more fighter aircraft to the region and extending the deployment of other warplanes. U.S. President Donald Trump called for Iran's "unconditional surrender". The safe-haven yen strengthened 0.2% versus the U.S. dollar on Wednesday but touched a one-week low earlier in the session, following a 1.3% slide over the previous three days. ADVERTISEMENT A weaker Japanese currency tends to boost shares of exporters, as it increases the value of overseas profits in yen terms. "The weaker yen is providing support," said Maki Sawada, an equities strategist at Nomura Securities. ADVERTISEMENT "A solid floor seems to have formed for the Nikkei, but the market is cautious about developments in the Middle East and will be sensitive to any headlines." (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
8 hours ago
- Business
- Time of India
Nikkei hits four-month high on weaker yen, defying geopolitical risks
Japan's Nikkei share average touched a four-month high on Wednesday, boosted by a weaker yen even as investors kept a wary eye on the rapidly escalating conflict between Israel and Iran. The Nikkei ended the day up 0.9% at the session's high of 38,885.15, a level last seen on February 20. The broader Topix rose 0.8%. The biggest boost to the Nikkei came from Uniqlo-brand owner Fast Retailing, chip-testing equipment maker Advantest and Switch-maker Nintendo , which rose 2%, 1.2% and 6.6%, respectively. "Japan remains one of our favoured equity markets," said Ben Powell, chief APAC investment strategist at the BlackRock Investment Institute. "Ongoing shareholder-friendly reforms to boost profitability support our tactical overweight on Japanese stocks," he said. "We prefer unhedged equity exposures, given the yen's tendency to strengthen during periods of market stress." Live Events The Nikkei steadily extended its advance as the day progressed despite heightened worries among market participants over the potential for a more direct U.S. military involvement in the Middle East. Reuters reported, citing three U.S. officials, that the U.S. military is deploying more fighter aircraft to the region and extending the deployment of other warplanes. U.S. President Donald Trump called for Iran's "unconditional surrender". The safe-haven yen strengthened 0.2% versus the U.S. dollar on Wednesday but touched a one-week low earlier in the session, following a 1.3% slide over the previous three days. A weaker Japanese currency tends to boost shares of exporters, as it increases the value of overseas profits in yen terms. "The weaker yen is providing support," said Maki Sawada, an equities strategist at Nomura Securities. "A solid floor seems to have formed for the Nikkei, but the market is cautious about developments in the Middle East and will be sensitive to any headlines."
