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Japan's Nikkei edges higher in choppy trade
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Japan's Nikkei edges higher in choppy trade
Aug 14, 2024 6:17 PM

TOKYO, Aug 15 (Reuters) - Japan's Nikkei share average

recouped early losses to trade marginally higher on Thursday as

investors waited for more economic data from the United States

to gauge the health of the world's largest economy.

The Nikkei had risen 0.2% to 36,526.24 by 0022 GMT

after starting in negative territory on some profit-taking,

while the broader Topix was up 0.6%.

Wall Street's three main stock indexes ended higher on

Wednesday after fresh inflation data reassured investors that

the U.S Federal Reserve would start cutting interest rates next

month.

But Japanese technology shares got little support after

megacap tech stocks dragged the Philadelphia SE Semiconductor

Index down 0.2% overnight.

Investors are now awaiting U.S. retail sales and weekly

unemployment data due later in the day amid recession worries.

Meanwhile, the Japanese stock market showed little reaction

to data showing the economy expanded by a faster-than-expected

annualised 3.1% in April-June.

(Reporting by Brigid Riley; Editing by Subhranshu Sahu)

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