Nikkei Breaks Record! Yen Weakens, Asian Markets Hold Their Breath
Japan's Nikkei 225 Index hit a new record on Wednesday, boosted by speculation that Prime Minister Sanae Takaichi could announce a snap election, possibly in February. The rise pushed the Nikkei above 54,000 for the first time, while the Topix also hit a new record, rising 0.6%. Since Tuesday, the Nikkei has risen more than 3%, signaling strong momentum for the Japanese stock market.
Meanwhile, the Japanese yen weakened past 159 against the US dollar, reaching its lowest level since July 2024. This decline prompted Japanese authorities to intervene to stem the weakening of its currency. This situation added uncertainty for market participants who monitor currency and stock movements simultaneously.
In other Asian markets, movement was quite mixed. South Korea's Kospi was flat, while the small-cap Kosdaq fell 0.37%. Australia's S&P/ASX 200 Index was flat, and Hong Kong's Hang Seng (HSI) futures showed a stronger opening than the previous close, signaling caution but optimism in the Asian region.
Meanwhile, Wall Street recorded a correction last night as investors reacted to a series of proposals by US President Donald Trump. The S&P 500 fell 0.19%, the Dow Jones Industrial Average fell 0.8%, and the Nasdaq Composite Index fell 0.1%, triggered by a sell-off in JPMorgan shares despite better-than-expected financial results. This left global markets holding their breath as they awaited further political and economic developments. (az)
Source: Newsmaker.id
