Japan’s Topix Rises on Tech Gains Amid Pre-BOJ, Tariff Caution
Japan’s Topix eked out gains, as strong earnings from the AI sector helped balance out caution ahead of the Bank of Japan’s rate decision and Donald Trump’s trade deal deadline.
Topix Index rose 0.4% to 2,920.18 as of market close in Tokyo
Electronics makers contributed most to gains on the benchmark, while service providers weighed most heavily
Nikkei was virtually unchanged at 40,654.70
Japan’s central bank is expected to hold interest rates steady in its policy announcement Thursday, but market participants will be watching for any hints at the timing of its next hike.
“Investors are hesitating ahead of the BOJ’s rate decision tomorrow,” with the “uncertain domestic political situation” also fueling caution, said Hiroshi Namioka, chief strategist and fund manager at T&D Asset Management. “Overall the upside feels heavy.”
However, tech-related names like cablemaker Fujikura and chip gear maker Tokyo Electron helped lift the Topix. US cablemaker Corning posted better-than-expected quarterly earnings Tuesday, boosting sentiment around AI demand.
Source: Bloomberg
