Japanese Stocks Down 0.2% on Wall Street Gains
The Nikkei 225 index fell 0.2% to around 39,300 on Wednesday, ending a two-day winning streak following Wall Street’s overnight decline, as investors braced for a key U.S. inflation report.
Market sentiment was also affected by mixed economic data out of Japan.
The Reuters Tankan index turned negative in December, while the BSI manufacturing sentiment reading showed improvement in the fourth quarter. Additionally, data revealed that Japanese producer prices rose at the fastest pace in 16 months in November.
Technology stocks led the decline, with significant losses from Disco (-3%), Lasertec (-1.7%), Tokyo Electron (-0.9%), Advantest (-2.1%), and SoftBank Group (-0.9%). Other major index constituents also fell, including Toyota Motor (-0.4%), Seven & I Holdings (-1.1%), and Shin-Etsu Chemical (-1.4%).
Source: Trading Economics