Nikkei Closes Green
Japanese stocks closed higher on Thursday after weaker-than-expected US labor market data boosted expectations of a Fed interest rate cut. The Nikkei 225 rose 0.87% (385.88 points) to 44,936.73. With the US government shutdown delaying the release of official data, the ADP report showed a surprise drop in September jobs and a downward revision for August—making market participants almost certain to price in a 25-bps cut for the remainder of the year.
On the corporate side, SBI Holdings (8473) fell 1.3% despite completing the transfer of SBI Sumishin Net Bank (7163) shares via a buyback, which recorded Q3 profits of ¥170.3 billion (non-consolidated) and ¥141.6 billion (consolidated). SKY Perfect JSAT (9412) fell 2.9% after losing 37,049 customers in September to 2.5 million, despite adding 32,477 new users. Fiber-optic retransmission services rose by 12,475 to 2.9 million households.
Meanwhile, For Startups (7089) rose 2.8% after launching Arikata, an AI-focused recruitment subsidiary designed to improve headhunting productivity with generative AI. Overall, the combination of Fed cut expectations and corporate catalysts maintained risk-on sentiment in the Japanese stock market. (ads)
Source: Newsmaker.id
