Japan’s Stocks Edge Lower on Signs Fed Won’t Rush to Cut Further
Japanese stocks traded slightly lower, following declines in US counterparts after the Federal Reserve left interest rates unchanged and said it wasn’t in hurry to make further cuts. Shares in the electronics, precision equipment, non-ferrous metals, real estate and construction sectors were down.
The Nikkei declined 0.1% to 39,389.46 as of 9:21 a.m. Tokyo time
The Topix Index fell 0.1% to 2,773.15; out of 2,118 stocks in the index, 946 rose and 994 fell, while 178 were unchanged
On the other hand, the automobile, steel, rubber products and shipping sectors were all on the rise. Insurance and other financial sectors were also stronger, underpinning the index. Advantest also revised its operating profit forecast upwards, helping to ease a sense of uncertainty about earnings and support the index.
The market is now looking to impact of the DeepSeek issue and the full-scale start of earnings season, said Takashi Ito, senior strategist at Nomura Securities. There’s a sense of anticipation in the market that profits may improve, he said.
Source : Bloomberg
