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Indonesia News Portal for Traders | Financial & Business Updates

17 September 2024 08:57  |

Japanese Shares Fall as Tech Sector Drags

The Nikkei 225 Index fell 0.8% to below 36,300 while the broader Topix Index lost 0.5% to 2,557 in post-holiday trade on Tuesday, sliding for the second straight session as losses in the technology sector weighed on the market.

Those moves came as megacap US tech names came under pressure overnight, with Apple leading the decline amid concerns about iPhone 16 sales. Investors also turned cautious ahead of the Bank of Japan's policy decision this week, where it is expected to hold rates steady but leave the door open to another rate hike before the year ends.

Losses in the technology sector were led by Lasertec (-2.1%), Tokyo Electron (-3.4%), Disco Corp (-1.6%), SoftBank Group (2.3%) and Advantest (-3.3%). Other index heavyweights also tumbled including Mitsubishi UFJ (-2.1%), Sumitomo Mitsui (-2.4%), Toyota Motor (-1.9%), Sony Group (-2.9%) and Daiichi Sankyo (-2.5%).

Source : Trading Economics

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