Yen Strengthens, Japanese Stocks Hold Their Breath
Japanese stocks closed slightly lower on Thursday, as trading resumed after a holiday. Investors remained cautious after a senior Japanese currency official emphasized that the government remains vigilant in monitoring foreign exchange movements, despite the yen's recent strengthening and the dollar's weakening trend.
The Nikkei 225 Index fell 0.02%, or around 10.7 points, to 57,639.84. The cautious statement came from Atsushi Mimura, a Japanese currency diplomacy official, who said authorities remain "on high alert" and are in constant communication with the US regarding market dynamics.
Mimura declined to comment on the possibility of a "rate check" and emphasized that monitoring will continue. The yen briefly weakened to around 154 per dollar following stronger-than-expected US jobs data, before rebounding to around 152, its strongest level since late January.
In terms of data, Japan released its Producer Price Index (PPI), which rose 2.3% year-on-year in January and 0.2% month-on-month from December. Increases were seen in food and beverages (+4.7%) and transportation equipment (+1.2%), while electricity, gas, and water fell 4.3%. Export prices rose 2% month-on-month on a currency contract basis, while import prices rose 1.2%.
At the issuer level, Suzuken fell 4% after announcing a restructuring of its logistics operations through two spin-offs within the group, including separating manufacturing logistics into a new unit effective April 1. Hyakugo Bank rose 3%, boosted by news that its consolidated capital adequacy ratio had increased to 13% as of the end of December (from 12.6% three months earlier). Meanwhile, Sakata INX rose 4% after announcing it would transition to a holding structure and change its name to INX Holdings Corp., effective January 1, 2027. (asd)
Source: Newsmaker.id
