Nikkei Falls 0.2% as Electronics Shares Drag
Japanese stocks weakened in quiet trading amid uncertainty about the economic outlook and the strength of corporate earnings performance going forward. The electronics sector led the declines, primarily due to pressure.
At 00:32 GMT, the Nikkei Stock Average fell 0.2% to 50,630.94. Market movements were said to remain fragile as investors weighed the risks of an economic slowdown and potential pressure on corporate earnings.
At the stock level, several names in the technology/electronics sector weighed. Kioxia Holdings fell 2.8%, while Canon Inc. fell 1.9%, reflecting weakening interest in electronics stocks during the session.
Currency-wise, USD/JPY was at 156.11, slightly lower than 156.23 at the close of the Tokyo stock market on Friday. The yen's movement against the dollar is being closely monitored as it could influence sentiment on Japanese exporter shares.
Market participants are also awaiting economic policy signals from Prime Minister Sanae Takaichi, while monitoring the progress of negotiations to end the war between Russia and Ukraine. These two factors are considered to have the potential to influence the direction of global risk and investor sentiment toward Japanese assets. (asd)
Source: Newsmaker.id
