Japanese Stocks Slip
The Nikkei 225 index fell 0.48% to close at 38,536, while the broader Topix index fell 0.27% to 2,701 on Thursday, reversing gains from earlier in the session, weighed down by losses in the technology sector following similar moves on Wall Street overnight.
Investors also continued to assess the potential impact of U.S. President-elect Donald Trump’s policies on the Japanese economy, particularly on export-driven industries.
Meanwhile, traders kept a close eye on a sharply weaker yen, which could provide support for local equities in the near term. Technology stocks led the losses, with Disco Corp. down 4.2%, Lasertec down 5%, Tokyo Electron down 3.5%, Advantest down 2.8% and SoftBank Group down 3.2%. In corporate news, Rakuten Group announced a strategic alliance with Mizuho Financial Group, transferring a 14.99% stake in Rakuten Card to Mizuho for about 165 billion yen.
Source : Trading Economics