Japanese Stocks Mixed, Tech & Pharmaceuticals Under Pressure, Weaker Yen Boosts Exporters
Japanese stocks closed with mixed results on Friday. The Topix edged up 0.1% to 3,187.02, while the Nikkei fell 0.9% to 45,354.99. The technology and pharmaceutical sectors were the main drags on the index, while a weaker yen supported exporter shares.
Chip-related stocks such as Lasertec, Disco, and Sumco led the decline in the Nikkei 225 after a consecutive rally in recent days. A Wall Street Journal report that the Trump administration is considering a plan to reduce US reliance on foreign semiconductors also worsened sentiment in the sector.
Pressure also came from the pharmaceutical sector, following President Donald Trump's policy of imposing 100% tariffs on branded and patented pharmaceutical products starting October 1. This policy added to the burden on already weak Japanese pharmaceutical stocks.
Meanwhile, a weaker yen against the US dollar helped support exporter shares. The Japanese currency fell 0.7% overnight following the release of strong US economic data, pushing the yen closer to the key 150 level. This provided a boost for export-based companies that benefit from weaker exchange rates. (ads)
Source: Bloomberg
