Latest news with #PhiladelphiaSESemiconductorIndex
Business Recorder
2 days ago
- Business
- Business Recorder
Nikkei reverses course to end lower
TOKYO: Japan's Nikkei share average surrendered early gains to close lower on Friday as sharp declines in Fast Retailing led technology stocks to erase their gains. The Nikkei slipped 0.19% to 39,569.68 after rising as much as 0.8% earlier in the session. The index fell 0.6% this week. The broader Topix rose 0.39% to 2,823.24. Fast Retailing tanked 6.93% after the Uniqlo brand owner said on Thursday higher US tariffs would start impacting its US operations significantly from later this year and that it plans to raise prices to mitigate the blow. 'Investors were worried about Fast Retailing's outlook for the next fiscal year. Still, gains of technology stocks supported the index,' said Kentaro Hayashi, senior strategist at Daiwa Securities. The market also sold stocks as soon as the Nikkei approached the psychologically important level of 40,000, strategists said. Chip-related Advantest and Tokyo Electron rose 0.71% and 0.9%, respectively, to track a 0.75% gain in the Philadelphia SE Semiconductor Index overnight.
Time of India
3 days ago
- Business
- Time of India
Japan's Nikkei reverses course to end lower as Fast Retailing tanks
Japan's Nikkei share average surrendered early gains to close lower on Friday as sharp declines in Fast Retailing led technology stocks to erase their gains. The Nikkei slipped 0.19% to 39,569.68 after rising as much as 0.8% earlier in the session. The index fell 0.6% this week. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo The broader Topix rose 0.39% to 2,823.24. Fast Retailing tanked 6.93% after the Uniqlo brand owner said on Thursday higher U.S. tariffs would start impacting its U.S. operations significantly from later this year and that it plans to raise prices to mitigate the blow. "Investors were worried about Fast Retailing's outlook for the next fiscal year. Still, gains of technology stocks supported the index," said Kentaro Hayashi, senior strategist at Daiwa Securities. Live Events The market also sold stocks as soon as the Nikkei approached the psychologically important level of 40,000, strategists said. Chip-related Advantest and Tokyo Electron rose 0.71% and 0.9%, respectively, to track a 0.75% gain in the Philadelphia SE Semiconductor Index overnight. Air-conditioning maker Daikin Industries climbed 5.44%. Banks advanced, aiding gains in the Topix, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group rising 1.77% and 1.53%, respectively. Toyota Motor added 1.39%. Seven & I Holdings rose 3.28% after the convenience store operator posted a 9.7% jump in quarterly operating profit, beating analysts' estimate. Of more than the 1,600 stocks trading on the Tokyo Stock Exchange 's prime market, 70% rose, 25% fell and 3% traded flat.
Business Recorder
3 days ago
- Business
- Business Recorder
Japan's Nikkei reverses early gains as Fast Retailing tanks
TOKYO: Japan's Nikkei share average reversed early gains to trade marginally lower on Friday as declines in Uniqlo-brand owner Fast Retailing erased gains in technology heavyweights. The Nikkei was down 0.1% to 39,595.96 as of 0158 GMT, after rising as much as 0.8% earlier in the session. The index is on track to lose 0.5% for the week. The broader Topix was up 0.73% at 2,832.86. Fast Retailing tanked 6.7% after the company said on Thursday higher US tariffs would start impacting its US operation significantly from later this year and it planned to raise prices to mitigate the blow. 'Investors were worried about Fast Retailing's outlook for the next fiscal year. Still, gains of technology stocks supported the index,' said Kentaro Hayashi, senior strategist at Daiwa Securities. The market also sold stocks as soon as the Nikkei approached the psychologically important level of 40,000, strategists said. Chip-testing equipment maker Advantest rose 0.9% to track a 0.75% gain in the Philadelphia SE Semiconductor Index overnight. Air-conditioning maker Daikin Industries climbed 2,87%. Silicon wafer maker Sumco jumped 3.95% to become the best percentage gainer on the Nikkei. Bank shares advanced, aiding gains in the Topix, with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group rising 2.66% each. Toyota Motor added 1.66%. Seven & I Holdings rose 3.63% after the convenience store operator posted a 9.7% rise in quarterly operating profit, beating analysts' estimates.
Yomiuri Shimbun
3 days ago
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Reverses Early Gains as Fast Retailing Tanks
TOKYO, July 11 (Reuters) – Japan's Nikkei share average reversed early gains to trade marginally lower on Friday as declines in Uniqlo-brand owner Fast Retailing erased gains in technology heavyweights. The Nikkei was down 0.1% to 39,595.96 as of 0158 GMT, after rising as much as 0.8% earlier in the session. The index is on track to lose 0.5% for the week. The broader Topix .TOPX was up 0.73% at 2,832.86. Fast Retailing9983.T tanked 6.7% after the company said on Thursday higher U.S. tariffs would start impacting its U.S. operation significantly from later this year and it planned to raise prices to mitigate the blow. 'Investors were worried about Fast Retailing's outlook for the next fiscal year. Still, gains of technology stocks supported the index,' said Kentaro Hayashi, senior strategist at Daiwa Securities. The market also sold stocks as soon as the Nikkei approached the psychologically important level of 40,000, strategists said. Chip-testing equipment maker Advantest 6857.T rose 0.9% to track a 0.75% gain in the Philadelphia SE Semiconductor Index .SOX overnight. Air-conditioning maker Daikin Industries 6367.T climbed 2,87%. Silicon wafer maker Sumco 3436.T jumped 3.95% to become the best percentage gainer on the Nikkei. Bank shares advanced, aiding gains in the Topix, with Mitsubishi UFJ Financial Group 8306.T and Sumitomo Mitsui Financial Group 8316.T rising 2.66% each. Toyota Motor 7203.T added 1.66%. Seven & I Holdings3382.T rose 3.63% after the convenience store operator posted a 9.7% rise in quarterly operating profit, beating analysts' estimates.
Indian Express
4 days ago
- Business
- Indian Express
Nvidia's stock market value hits $4 trillion on AI dominance
Nvidia briefly reached a market capitalization of $4 trillion on Wednesday, making it the first company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favored stocks. Shares of the leading chip designer rose as much as 2.8% to an all-time high of $164.42, benefiting from an ongoing surge in demand for artificial-intelligence technologies. The company's stock ended with a gain of 1.80%, leaving it with a market value of $3.97 trillion. Nvidia's soaring market value underscores Wall Street's confidence in the rapid growth of AI, with the company's high-performance chips forming the backbone of this technological advance. 'It highlights the fact that companies are shifting their asset spend in the direction of AI and it's pretty much the future of technology,' said Robert Pavlik, senior portfolio manager at Dakota Wealth in New York. The stock's recent rally follows a sluggish start to the year, when the emergence of a Chinese discount artificial-intelligence model developed by DeepSeek shook confidence in stocks linked to the sector. Nvidia achieved a $1 trillion market value for the first time in June 2023 and tripled it in about a year, faster than Apple and Microsoft, the only other U.S. firms with market values above $3 trillion. Microsoft is the second-most valuable U.S. company, with a market capitalization of $3.74 trillion. Its shares gained 1.4% on Wednesday to close at $503.51. Nvidia has rebounded about 74% from its lows in April, when global markets were jolted from U.S. President Donald Trump's tariff volley. Optimism around trade partners reaching deals with the U.S. has lifted stocks of late, with the S&P 500 hitting an all-time high. Nvidia accounts for 7.3% of the S&P 500. Apple and Microsoft account for around 7% and 6%, respectively. Nvidia is now worth more than the combined value of the Canadian and Mexican stock markets, according to LSEG data, and it exceeds the total value of all publicly listed companies in the UK. Its stock recently traded at a 12-month forward price-to-earnings ratio of 32, below its three-year average of 37, according to data compiled by LSEG. While Nvidia's chips dominate the AI industry, Amazon , Microsoft, Alphabet and other major customers have faced pressure from investors to rein in their heavy spending on AI. As well, Advanced Micro Devices and other rivals aim to take some of Nvidia's market share by selling lower-cost processors. Nvidia reported total revenue of $44.1 billion in the first quarter, marking a 69% jump from a year ago. For the second quarter, Nvidia expects revenue of $45 billion, plus or minus 2%. It will report second-quarter results on August 27. Including the session's gains, Nvidia is up about 22% this year compared with a nearly 15% rise in the Philadelphia SE Semiconductor Index.
