Japanese Shares Slip on Weak Wall Street Cues
The Nikkei 225 Index fell 0.51% to close at 37,554 while the broader Topix Index dropped 1.03% to 2,756 on Thursday, giving back gains from the previous session as US stocks struggled for momentum overnight.
The downturn followed a lackluster performance in US markets, where weak labor and services data raised concerns about the impact of trade policy uncertainty on the economy.
The ADP report showed US private-sector hiring slowed to its lowest level in over two years, while the US ISM services PMI for May pointed to the first contraction in nearly a year.
On the domestic front, data revealed a fourth straight monthly decline in real wages in April, as persistent inflation continued to outpace nominal wage growth adding to concerns about consumer purchasing power.
Losses were led by key index components including IHI Corp (-4.6%), Mitsubishi UFJ (-1.4%), Nintendo (-2%), Toyota Motor (-2.7%), and Sony Group (-1.5%).
Source: Trading Economi
