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<Asia> Nikkei Index Closes Down 230 Points; Mixed Performance in Semiconductor Stocks; Trading Companies Perform Well
Recommend 4 Positive 1 Negative 0 |
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Japanese stocks declined, influenced by the drop in US semiconductor stocks, leading related Japanese stocks downward. Investors buying shares to collect dividends before the end of the month supported buying interest, temporarily lifting the market. The Nikkei Average Index opened 364 points lower, initially widening its decline to 1,086 points, reaching a low of 52,516 points. It then narrowed its losses and reversed to rise by 111 points to 53,714 points, closing down 230 points or 0.4% at 53,373 points, with a weekly gain of less than 1 point. In the AI and semiconductor sector, Advantest (6857.JP), Tokyo Electron (8035.JP), and Kioxia (285A.JP) fell 3.1% to 4.2%, Disco (6146.JP) dropped 1.4%, while Lasertec (6920.JP) and SoftBank (9984.JP) rose 1.2% and 3.1%, respectively. Among cable stocks, Furukawa Electric (5801.JP) and Sumitomo Electric (5802.JP) each fell 4.1%, and Fujikura (5803.JP) declined 1.7%. South Korea imposed anti-dumping duties on industrial robots from China and Japan, causing Kawasaki Heavy Industries (7012.JP) to fall 0.7%, while Fanuc (6594.JP) and Yaskawa Electric (6506.JP) dropped 2.4% and 2.1%, respectively. In other stocks, Fast Retailing (9983.JP) fell 0.1%, Tokyo Electric Power (9501.JP) rose 1.9%, Nintendo (7974.JP) and Sanrio (8136.JP) increased 2.5% and 2%, respectively. In the metals sector, JX Nippon Mining & Metals (5016.JP) fell 1.4%, while trading companies Mitsui & Co. (8031.JP), Sumitomo Corporation (8053.JP), and Mitsubishi Corporation (8058.JP) rose 1.8% to 2.3%. Shiseido (4911.JP) had its investment rating upgraded to 'Buy' by Citi, with its stock price rising 6.2%. The USD/JPY exchange rate was 159.79. (fc/w) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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