Japanese Market Notably Lower

RTTNews | 38 days ago
Japanese Market Notably Lower

(RTTNews) - Giving up some of the strong gains in the previous session, the Japanese stock market is notably lower in choppy trading on Friday, despite the broadly positive cues from global markets overnight. The benchmark Nikkei 225 is falling below the 36,600 level, with weakness in some index heavyweights as traders react to Bank of Japan board members' comment that the central bank must push up short-term rates to at least around 1% through fiscal 2026 to stably achieve the 2% inflation target.

The benchmark Nikkei 225 Index is losing 236.74 points or 0.64 percent to 36,596.53, after touching a high of 36,887.40 earlier. Japanese stocks closed sharply higher on Thursday.

Market heavyweight SoftBank Group is losing almost 1 percent and Uniqlo operator Fast Retailing is edging down 0.2 percent. Among automakers, Honda is losing almost 1 percent and Toyota is declining almost 2 percent.

In the tech space, Advantest is gaining more than 1 percent and Tokyo Electron is edging up 0.5 percent, while Screen Holdings is edging down 0.3 percent.

In the banking sector, Mitsubishi UFJ Financial is flat, while Mizuho Financial and Sumitomo Mitsui Financial are edging up 0.1 to 0.2 percent each.

Among major exporters, Mitsubishi Electric is gaining almost 1 percent, while Sony is declining almost 1 percent, Canon is losing more than 2 percent and Panasonic is slipping more than 1 percent.

Among other major losers, Astellas Pharma and NEXON are declining more than 3 percent each, while CyberAgent, Konami Group, NEC, Ajinomoto and Minebea Mitsumi are losing almost 3 percent each.

Conversely, Kawasaki Heavy Industries is surging more than 8 percent, Isetan Mitsukoshi is gaining almost 4 percent and Ebara is adding more than 3 percent, while Socionext, Shiseido and Disco are advancing almost 3 percent each.

In the currency market, the U.S. dollar is trading in the lower 141 yen-range on Friday.

On Wall Street, stocks moved notably higher over the course of the trading day on Thursday after turning in a lacklustre performance early in the session. The Nasdaq and the S&P 500 added to strong gains posted in Wednesday's session, closing higher for the fourth straight day.

The major averages all finished the day firmly in positive territory. The Nasdaq jumped 174.15 points or 1.0 percent to 17,569.68, the S&P 500 advanced 41.63 points or 0.8 percent to 5,595.76 and the Dow climbed 235.06 points or 0.6 percent to 41,096.77.

The major European markets also moved to the upside on the day. While the German DAX Index jumped by 1.0 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index climbed by 0.6 percent and 0.5 percent, respectively.

Crude oil prices climbed higher on Thursday amid reports of supply cuts in facilities along the Gulf of Mexico due to the impact of Hurricane Francine, despite the International Energy Agency lowering its oil demand forecast for the year. West Texas Intermediate Crude oil futures for October ended up by $1.66 or nearly 2.5 percent at $68.97 a barrel.

read more
European Shares Poised For Mixed Open

European Shares Poised For Mixed Open

European stocks are likely to open on a mixed note Monday as investors ponder over the health of the U.S. and Chinese economies and await a slew of corporate results for directional cues.
RTTNews | 6h 35min ago
China Cuts Benchmark Lending Rates To Revive Growth

China Cuts Benchmark Lending Rates To Revive Growth

China reduced its benchmark lending rates by 25 basis points on Monday as the economic growth slowed further amid persistent deflationary pressures. The People's Bank of China cut its one-year loan prime rate to 3.10 percent from 3.35 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was lowered to 3.60 percent from 3.85 percent.
RTTNews | 6h 45min ago
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the positive cues from Wall Street on Friday, as traders trimmed their bets on US Fed interest rate cuts this year amid following largely upbeat batch of US economic data last week. A slew of Chinese data last week backed calls for more stimulus to boost the economy. Persisting worries about geopolitical tensions weighed on the markets.
RTTNews | 8h 43min ago
Sensex, Nifty Seen Higher At Open

Sensex, Nifty Seen Higher At Open

Indian shares look set to open a tad higher on Monday as investors react to earnings from HDFC Bank, Kotak Mahindra Bank and Tech Mahindra Bank released over the weekend.
RTTNews | 9h 35min ago
Japanese Market Slightly Higher

Japanese Market Slightly Higher

The Japanese stock market is trading slightly higher on Monday, adding to the gains in the previous session. The benchmark S&P/ASX 200 is moving a tad above the 39,000 mark, following the broadly positive cues from Wall Street on Friday, with gains is index heavyweights and technology stocks partially offset by weakness in financial stocks.
RTTNews | 9h 50min ago
Rebound Anticipated For Thai Stock Market

Rebound Anticipated For Thai Stock Market

The Thai stock market on Friday snapped the two-day winning streak in which it had gained almost 30 points or 2.1 percent. The Stock Exchange of Thailand now rests just beneath the 1,490-point plateau although it's expected to bounce higher again on Monday.
RTTNews | 10h 8min ago
Overbought Jakarta Market Nonetheless Called Higher Again On Monday

Overbought Jakarta Market Nonetheless Called Higher Again On Monday

The Indonesia stock market has tracked higher in six straight sessions, climbing more than 275 points or 3.7 percent along the way. The Jakarta Composite Index now rests just above the 7,760-point plateau and it's got a firm lead again for Monday's trade.
RTTNews | 10h 38min ago