Japan Stocks Fluctuate Lower as Electronics Makers, Banks Drop
Japanese stocks fluctuated downward after US employment statistics came out lower than expected and Federal Reserve Chair Jerome Powell acknowledged increased uncertainty in the US economic outlook, but said officials don’t need to rush to adjust policy.
Topix Index fell 0.4% to 2,697.36 as of 9:24 a.m. Tokyo time.
Nikkei 225 declined 0.3% to 36,767.31.
Rubber-related stocks were high, and defensive sectors such as pharmaceuticals and food products were firm. Selling hit game-related firms, electrical machinery and machinery sectors, while steel and shipping stocks were weak.
Sony contributed the most to the Topix’s decline, decreasing 2.6%. Out of 1,693 stocks in the index, 635 rose and 973 fell, while 85 were unchanged.
Electronics makers were the heaviest drag on the benchmark after the yen gained to as high as 146.95 per dollar on Friday, its strongest since October.
Source: Bloomberg
