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Business Recorder
6 days ago
- Business
- Business Recorder
Nikkei ends higher despite Middle East conflict
TOKYO: Japan's Nikkei share average climbed more than 1% on Monday, driven by chipmaker Advantest's 9% surge following a brokerage target price upgrade, as traders shrugged off geopolitical tensions between Israel and Iran. The Nikkei rose 1.26% to close at 38,311.33 and the broader Topix climbed 0.75% to 2,777.13. 'Japanese shares were strong despite worries about geopolitical risks of the Middle East,' said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory. 'That was because investors were relieved that oil prices, which affect the local economy, did not spike (today),' he said. Global investors keenly monitored the Israel-Iran conflict for any signs of escalation into a broader regional conflict. In Japan, shares of Advantest jumped 9.63% after JPMorgan Securities on Friday raised its target price to 11,000 yen from 10,500 yen. The shares were the largest contributors to the Nikkei's gains.
New Straits Times
6 days ago
- Business
- New Straits Times
Japan's Nikkei ends higher despite Middle East conflict; Advantest soars
TOKYO: Japan's Nikkei share average climbed more than 1.0 per cent on Monday, driven by chipmaker Advantest's 9 per cent surge following a brokerage target price upgrade, as traders shrugged off geopolitical tensions between Israel and Iran. The Nikkei rose 1.26 per cent to close at 38,311.33 and the broader Topix climbed 0.75 per cent to 2,777.13. "Japanese shares were strong despite worries about geopolitical risks of the Middle East," said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory. "That was because investors were relieved that oil prices, which affect the local economy, did not spike (today)," he said. Global investors keenly monitored the Israel-Iran conflict for any signs of escalation into a broader regional conflict. In Japan, shares of Advantest jumped 9.63 per cent after JPMorgan Securities on Friday raised its target price to 11,000 yen from 10,500 yen. The shares were the largest contributors to the Nikkei's gains. Uniqlo-brand owner Fast Retailing rose 1 per cent and technology investor SoftBank Group climbed 2.5 per cent. A weaker yen also supported sentiment, said Tokai Tokyo's Yasuda. The yen weakened late last week as investors sought safe-haven assets such as the dollar - a trend that continued through Monday. The greenback was last up 0.1 per cent at 144.235 against the Japanese yen. A weaker yen benefits exporters, as it boosts the yen value of overseas earnings when profits are repatriated to Japan. Shares of Nippon Steel rose 1.5 per cent after US President Donald Trump approved its US$14.9 billion bid for US Steel on Friday. The sector for steelmakers rose 1 per cent. The shipping sector climbed 1 per cent on expectations for rising freight rates amid the Middle East conflict. Shares of Kawasaki Kisen rose 1.38 per cent. Of more than 1,600 stocks trading on the TSE's prime market, 69 per cent rose, 26 per cent declined and 3 per cent traded flat.
Business Recorder
12-06-2025
- Automotive
- Business Recorder
Japan's Nikkei falls as US stock futures decline, firmer yen weighs
TOKYO: Japan's Nikkei share average fell on Thursday as a stronger yen prompted a sell-off of exporters, while declines in U.S. stock futures hurt sentiment. The Nikkei fell 0.7% to close at 38,173.09. The broader Topix slipped 0.2%. 'Investors sold Japanese equities as they bet Wall Street would be weak again later in the day, after seeing declines of U.S. stock futures in Asia hours,' said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory. 'But the Nikkei closed above the 38,000 level for a fourth consecutive day, it seems that the index has cleared the first hurdle for further gains.' The S&P 500 ended lower overnight, with investors spooked by Middle East tensions, while a tame inflation report calmedconcerns around tariff-driven price pressures and traders awaited more details on the China-U.S. trade talks. S&P and Nasdaq futures each fell about 0.3% in Asia trade. Nikkei climbs for fourth day on US-China trade talks The yen strengthened about 0.6% to trade at 143.67 per dollar. Uniqlo-brand owner Fast Retailing dropped 2.6% to drag the Nikkei the most. Automakers declined as the yen gained, with Toyota Motor and Honda Motor losing 1.5% and 0.9%, respectively. A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese currency. The yen's strength this week has worked to keep the Nikkei below 38,500, Mizuho Securities analyst Yutaka Miura said. 'The yen's appreciation trend is expected to continue moderately, which is likely to be a factor in limiting the upside of Japan stocks,' he said, predicting the Nikkei will move in the 36,000-39,000 range this month. Bucking the trend among exporters, Nintendo rose 1.1% after the game maker said it had sold more than 3.5 million Switch 2 units in the first four days after its launch, making the console the company's fastest-selling gaming device to date. Sumitomo Pharma was far and away the Nikkei's top percentage gainer, surging by its daily limit of 17% after Daiwa Securities upgraded the stock.
New Straits Times
12-06-2025
- Business
- New Straits Times
Japan's Nikkei falls as US stock futures decline, firmer yen weighs
TOKYO: Japan's Nikkei share average fell on Thursday as a stronger yen prompted a sell-off of exporters, while declines in US stock futures hurt sentiment. The Nikkei fell 0.7 per cent to close at 38,173.09. The broader Topix slipped 0.2 per cent. "Investors sold Japanese equities as they bet Wall Street would be weak again later in the day, after seeing declines of US stock futures in Asia hours," said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory. "But the Nikkei closed above the 38,000 level for a fourth consecutive day, it seems that the index has cleared the first hurdle for further gains." The S&P 500 ended lower overnight, with investors spooked by Middle East tensions, while a tame inflation report calmed concerns around tariff-driven price pressures and traders awaited more details on the China-US trade talks. S&P and Nasdaq futures each fell about 0.3 per cent in Asia trade. The yen strengthened about 0.6 per cent to trade at 143.67 per dollar. Uniqlo-brand owner Fast Retailing dropped 2.6 per cent to drag the Nikkei the most. Automakers declined as the yen gained, with Toyota Motor and Honda Motor losing 1.5 per cent and 0.9 per cent, respectively. A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese currency. The yen's strength this week has worked to keep the Nikkei below 38,500, Mizuho Securities analyst Yutaka Miura said. "The yen's appreciation trend is expected to continue moderately, which is likely to be a factor in limiting the upside of Japan stocks," he said, predicting the Nikkei will move in the 36,000-39,000 range this month. Bucking the trend among exporters, Nintendo rose 1.1 per cent after the game maker said it had sold more than 3.5 million Switch 2 units in the first four days after its launch, making the console the company's fastest-selling gaming device to date. Sumitomo Pharma was far and away the Nikkei's top percentage gainer, surging by its daily limit of 17 per cent after Daiwa Securities upgraded the stock.
Business Recorder
12-06-2025
- Automotive
- Business Recorder
Japan's Nikkei falls as US stock futures decline, stronger yen weighs
TOKYO: Japan's Nikkei share average fell on Thursday, as a stronger yen prompted a sell-off of exporters, while declines of U.S. stock futures hurt sentiment. As of 0200 GMT, the Nikkei was down 0.7% at 38,154.95. The broader Topix slipped 0.38% to 2,778.25. 'Investors sold Japanese equities as they bet Wall Street would be weak again later in the day, after seeing declines of U.S. stock futures in Asia hours,' said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory. 'But the Nikkei closed above the 38,000 level for a fourth consecutive day, it seems that the index has cleared the first hurdle for further gains,' said Suzuki. The S&P 500 ended lower overnight, with investors spooked by Middle East tensions, while a tame inflation report calmed concerns around tariff-driven price pressures and traders awaited more details on China-U.S. trade talks. S&P and Nasdaq futures each fell about 0.4% in Asia trade. In Japan, Uniqlo-brand owner Fast Retailing fell 2.1% to drag the Nikkei the most. Chip-making equipment maker Tokyo Electron lost 0.7%. Nikkei climbs for fourth day on US-China trade talks Automakers fell as the yen gained against the U.S. dollar, with Toyota Motor and Honda Motor down 1.6% and 0.78%, respectively. A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese currency. Bucking the trend, Nintendo rose 1.33% after the game maker said it had sold more than 3.5 million Switch 2 units in the first four days after its launch, making the console the company's fastest-selling gaming device to date. Toy maker Konami Group rose 1.6% to give the biggest support to the Nikkei.
