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Yomiuri Shimbun
2 days ago
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Falls after Sharp Gains as US-Japan Trade Talk Weighs
TOKYO, July 1 (Reuters) – Japan's Nikkei share average slipped on Tuesday as investors sold stocks after the index's sharp gains, and uncertainties around the U.S.-Japan trade talks weighed on sentiment. As of 0210 GMT, the Nikkei .N225 was down 1.1% at 40,048.14. It is set to snap a five-session winning streak that pushed it to its highest level since mid-July in the previous session. The broader Topix .TOPX slipped 0.87% to 2,828.15. 'The market was overheated, but there were some factors that boosted demand last month,' said Hiroyuki Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management. Japanese equities mirrored a rally in U.S. stocks in the past several sessions, but demand was also supported by dividend payouts investors received after corporate shareholders' meetings in June, as well as corporate share buybacks, said Ueno. The Nikkei rose 6.6% in June, marking its biggest monthly gain since February 2024. In the last five sessions of June, the index gained 5.5%. The Relative Strength Index (RSI), a technical measure for an investment momentum, dropped to 67.6 on Tuesday from the 'overbought' condition of 74.5. Meanwhile, U.S. President Donald Trump expressed frustration with U.S.-Japan trade negotiations on Monday, casting clouds over ongoing trade talks between the two countries. U.S. Treasury Secretary Scott Bessent also warned that countries could be notified of sharply higher tariffs as a July 9 deadline approaches despite good-faith negotiations. 'Investors weighed trade factors, but if the outlook of the talks becomes clear, then the market gauges stocks with fundamentals and the Nikkei has the potential to rise further,' said Ueno. Uniqlo-brand owner Fast Retailing 9983.T fell 3.3% to drag the Nikkei the most. Chip-equipment maker Tokyo Electron 8035.T slipped 1.52%. Bucking the trend, cable maker Fujikura 5803.T jumped 2.2% to become the biggest percentage gainer on the Nikkei.
Yomiuri Shimbun
3 days ago
- Automotive
- Yomiuri Shimbun
Japan's Nikkei Stock Average Hits More Than 11-Month High after US Stocks Rally
The Nikkei .N225 rose 1.64% to 40,809.82 by the midday break, hitting its highest level since July 17. The index rose for a fifth straight session. The broader Topix .TOPX rose 0.96% to 2,867.82. A strategist at a domestic brokerage said a rally of U.S. equities last week and hopes of Fed rate cuts, as well as easing tension in the Middle East helped investors to turn 'risk-on'. 'The Nikkei's gains are sharp and there will be some adjustment, but that will be very limited because Japanese stocks are still underperforming their global peers,' said Koichi Kurose, chief strategist, Resona Asset Management. Wall Street extended its rally on Friday, sending the S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal Reserve. In Japan, start-up investor SoftBank Group 9984.T jumped 5% to become the biggest source for the Nikkei's gains. Chip-making equipment maker Tokyo Electron 8035.T and chip-testing equipment maker Advantest 6857.T rose 2.78% and 2.88%, respectively. 'There is an expectation that domestic spending may grow towards the end of the year as utility costs could become lower due to falling oil prices and a stronger yen,' said Kurose. All but two of the Tokyo Stock Exchange's 33 industry sub-indexes rose, with the precision machinery sector .IPRCS.T rising 2.21% to become the top percentage gainer. Medical equipment maker Olympus jumped 6% after falling in four straight sessions. The automaker sector .ITEQP.T inched down 0.6% after U.S. President Donald Trump said in an interview broadcast on Sunday that Japan engages in 'unfair' automobile trade with the U.S.
Yomiuri Shimbun
7 days ago
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Rises to 4-Month High as Middle East Calm Boosts Tech Shares
TOKYO, June 26 (Reuters) – Japan's Nikkei share average touched its highest since February on Thursday, as a period of calm in the Middle East encouraged investors to buy back riskier assets, particularly chip and other high-tech shares. The Nikkei .N225 climbed 1% to 39,343.35 as of 0209 GMT and reached 39,400.65 at its highest point, a level last seen on February 18. Artificial intelligence-linked stocks stood out, with startup investor SoftBank Group 9984.T climbing 4.2% and chip-testing equipment maker Advantest 6857.T advancing 3.5%. By contrast, the broader and less tech-heavy Topix .TOPX rose 0.3%. A sub-index of growth shares .TOPXG gained 0.3%, outpacing a 0.2% increase in value shares .TOPXV. Markets globally have been soothed by the ceasefire between Israel and Iran this week, which reduced the risk of disruptions to global oil supply. Japan imports virtually all of its crude, and energy-intensive manufacturing is a key national industry. 'Growth shares, particularly semiconductor-related stocks, are benefitting from the improvement in risk sentiment,' said Maki Sawada, a strategist at Nomura Securities. The AI boom narrative is still intact, she said, adding that investors are rotating into tech from defensive sectors such as real estate. The Topix real estate sub-index .IRLTY.T slipped 0.3%. The Nikkei's worst-performing stock, however, was chipmaker Renesas 6723.T, which tumbled nearly 9% on signs it would push back long-term targets by five years to 2035 at an investor presentation later in the day. The best performer was industrial machinery maker Ebara 6361.T, which soared more than 10% after Tokai Tokyo Intelligence Laboratory reiterated its outperform rating on the stock.
Yomiuri Shimbun
25-06-2025
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Slips as US Futures Fall, Investors Eye Israel-Iran Ceasefire
TOKYO, June 25 (Reuters) – Japan's Nikkei share average inched lower on Wednesday, weighed down by declines in U.S. stock futures, as investors awaited clarity on whether a fragile ceasefire between Israel and Iran would hold. The Nikkei .N225 was down 0.1% at 38,750.47 by the midday break, after flitting between modest gains and losses. The broader Topix .TOPX fell 0.34% to 2,771.93. 'The market had already factored in the gains of U.S. stocks last night subsequent to a ceasefire announcement,' said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. The Nikkei snapped a three-day losing streak to end higher on Tuesday after U.S. President Donald Trump announced the ceasefire agreement late Monday.
Yomiuri Shimbun
24-06-2025
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Rises after Trump Announces Iran-Israel Ceasefire
TOKYO, June 24 (Reuters) – Japan's Nikkei share average rose on Tuesday as investors' risk appetite was boosted after U.S. President Donald Trump said Iran and Israel agreed to a ceasefire. As of 0212 GMT, the Nikkei .N225 rose 1.1% to 38,778.71, while the broader Topix .TOPX rose 0.78% to 2,782.78. Trump said a 'complete and total' ceasefire between Israel and Iran will go into force with a view to ending the 12-day conflict between the two nations, moments after both sides threatened new attacks. 'Following Trump's announcement, the market turned to risk on,' said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory. Technology stocks led the gains on the Nikkei, with chip-making equipment maker Tokyo Electron 8035.T climbing 4.4% to boost the index the most. Technology investor SoftBank Group 9984.T advanced 4.7%. 'But the yen's gain against the dollar capped the Nikkei's gains,' Yasuda said. The dollar fell following the news, pushing the yen up 0.3% at 145.585. The yen fell to as low as 148 per dollar in its lowest in more than a month in the previous session. A stronger Japanese currency tends to hurt shares of exporters, as it decreases the value of overseas profits in yen terms when firms repatriate them to Japan. Honda Motor 7267.T lost 0.39% while Nissan Motor 7201.T slipped 0.29%. Energy stocks fell as U.S. crude futures CLcv1 tumbled, with Inpex 1605.T falling 5.6% to be the worst percentage loser on the Nikkei. Oil refiner Eneos Holdings 5020.T slipped 1.98%. Shipping firms also fell, with Kawasaki Kisen 9107.T and Mitsui OSK Lines 9104.T losing 1.94% and 1.58%, respectively. Of more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 69% rose and 26% fell, with 4% trading flat.
