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Economic Times
4 days ago
- Automotive
- Economic Times
Japan's Nikkei pulls back from record high on rate-hike fears, stronger yen
Japan's Nikkei share average fell on Thursday, pulling back from a record high scaled in the previous session on concerns over a potential shift in Bank of Japan policy and a stronger yen. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Japan's Nikkei share average fell on Thursday, pulling back from a record high scaled in the previous session on concerns over a potential shift in Bank of Japan policy and a stronger Nikkei ended 1.45% lower at 42,649.26, snapping a six-session rally. The index crossed the key 43,000 level on Wednesday for the first sold stocks to lock in profits on growing concerns that the market is overheating, said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence market also became cautious that the BOJ may raise interest rates soon, after U.S. Treasury Secretary Scott Bessent's comments, he an interview with Bloomberg Television, Bessent said the BOJ is going to hike rates as it is "behind the curve" in handling monetary comments came as rising bets that the Federal Reserve will resume rate cuts next month sent the dollar to a three-week low.A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese broader Topix fell 1.1% to 3,057.95, also snapping a six-session winning of chip-testing equipment maker Advantest lost 4.64% to become the biggest drag for the Nikkei. Chip-making equipment maker Tokyo Electron fell 2.01%.Heavy machinery maker Mitsubishi Heavy Industries slipped 5.69%, weighing the most on the fell, with Toyota Motor and Honda Motor losing 2.43% and 1.25%, gainers, technology investor SoftBank Group rose 4.4%.Of the more than 1,600 stocks trading on the Tokyo Stock Exchange 's prime market, 28% rose, 68% fell, and 3% closed flat.
Time of India
4 days ago
- Automotive
- Time of India
Japan's Nikkei pulls back from record high on rate-hike fears, stronger yen
Japan's Nikkei share average fell on Thursday, pulling back from a record high scaled in the previous session on concerns over a potential shift in Bank of Japan policy and a stronger yen. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Japan's Nikkei share average fell on Thursday, pulling back from a record high scaled in the previous session on concerns over a potential shift in Bank of Japan policy and a stronger Nikkei ended 1.45% lower at 42,649.26, snapping a six-session rally. The index crossed the key 43,000 level on Wednesday for the first sold stocks to lock in profits on growing concerns that the market is overheating, said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence market also became cautious that the BOJ may raise interest rates soon, after U.S. Treasury Secretary Scott Bessent's comments, he an interview with Bloomberg Television, Bessent said the BOJ is going to hike rates as it is "behind the curve" in handling monetary comments came as rising bets that the Federal Reserve will resume rate cuts next month sent the dollar to a three-week low.A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese broader Topix fell 1.1% to 3,057.95, also snapping a six-session winning of chip-testing equipment maker Advantest lost 4.64% to become the biggest drag for the Nikkei. Chip-making equipment maker Tokyo Electron fell 2.01%.Heavy machinery maker Mitsubishi Heavy Industries slipped 5.69%, weighing the most on the fell, with Toyota Motor and Honda Motor losing 2.43% and 1.25%, gainers, technology investor SoftBank Group rose 4.4%.Of the more than 1,600 stocks trading on the Tokyo Stock Exchange 's prime market, 28% rose, 68% fell, and 3% closed flat.
