financetom
World
financetom
/
World
/
Japan's Nikkei slips on profit-taking after two-day winning streak
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Nikkei slips on profit-taking after two-day winning streak
Dec 3, 2024 7:27 PM

TOKYO, Dec 4 (Reuters) - Japan's Nikkei share average

edged down on Wednesday, with investors booking profit after two

straight days of gains as they awaited fresh economic cues from

the U.S. and Japan.

The Nikkei declined 0.4% to 39,077.04 by the midday

break, after closing up nearly 2% the previous day.

The broader Topix was down 0.6% at 2,735.97.

Japan's major technology shares got off to a solid start

before slipping as investors secured profit after Tuesday's

large gains.

The market was also weighing escalating trade tensions after

the United States' latest crackdown on China's chip sector.

AI-focused startup investor SoftBank Group shed

2.5%, and chip-making equipment giant Tokyo Electron ( TOELF )

slid 0.6%, while chip peer Advantest ( ADTTF ) gained 0.8%.

Wall Street ended mixed overnight, offering limited momentum

to Japanese equities.

With monetary policy meetings in both the U.S. and Japan

coming up later this month, economic news was in focus, said

Kenji Abe, chief strategist at Daiwa Securities.

The U.S. jobs report will be released on Friday, while the

U.S. CPI and the Bank of Japan's "tankan" survey are due later

this month.

"I think investors are paying a lot of attention to those,"

said Abe.

Federal Reserve Chair Jerome Powell will also speak later on

Wednesday.

Among individual shares, Uniqlo parent firm Fast Retailing ( FRCOF )

climbed 0.8% to offer the overall Nikkei support. The

company said on Monday that Uniqlo's domestic same-store sales

in November increased 12.2% compared to the same month last

year.

Ryohin Keikaku ( RYKKF ) jumped 5.6% after the Muji retail

stores operator also reported a rise in domestic retail and

online store sales last month compared to a year ago.

Shares of pharmaceutical firm Eisai ( ESALF ) tumbled 4.5% on

news that Biogen expects growth of its Alzheimer's

disease drug, Leqembi, to see a "linear trend" in the United

States in the near term. Biogen sells Leqembi with Eisai ( ESALF ).

Automakers stumbled, with Subaru and Nissan Motor ( NSANF )

both losing about 3.3%.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Update: WTI Crude Closes at a Six-Week High as Expectations Around Increased Demand Offsets Weak China Data
Update: WTI Crude Closes at a Six-Week High as Expectations Around Increased Demand Offsets Weak China Data
Jun 17, 2024
02:39 PM EDT, 06/17/2024 (MT Newswires) -- West Texas Intermediate (WTI) crude oil closed at the highest in six weeks on Monday on expectations for rising demand during the busy summer season, offsetting weak industrial data from China. WTI crude for July delivery closed up US$1.88 to settle at US$80.33 per barrel, the highest since April 29. August Brent crude,...
Update: Gold Trades Lower Midafternoon as Treasury Yields Rebound
Update: Gold Trades Lower Midafternoon as Treasury Yields Rebound
Jun 17, 2024
02:00 PM EDT, 06/17/2024 (MT Newswires) -- (Updates prices.) Gold prices moved lower midafternoon on Monday as yields rebounded after narrowing on Friday when a report showed weak consumer sentiment. Gold for August delivery was last seen down US$20.20 to US$2,328.90 per ounce. The drop follows on Friday's rise up from a five-month low as treasury yields narrowed following weak...
TSX Closer: The Market Drops for a Third Day as Interest-Rate Concerns Are a Focus Yet Again
TSX Closer: The Market Drops for a Third Day as Interest-Rate Concerns Are a Focus Yet Again
Jun 17, 2024
04:32 PM EDT, 06/17/2024 (MT Newswires) -- The Toronto Stock Exchange closed lower for a third-straight session on Monday, with the S&P/TSX Composite Index shedding 51.22 points to close at 21,587.88 on weak resources issues and an unclear path for the Bank of Canada to further cut interest rates. Weak prices for precious and industrial metals are cutting into the...
Nasdaq Surges Over 200 Points; Aaron's Shares Jump
Nasdaq Surges Over 200 Points; Aaron's Shares Jump
Jun 17, 2024
U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite surging over 200 points on Monday. The Dow traded up 0.57% to 38,807.47 while the NASDAQ rose 1.22% to 17,904.35. The S&P 500 also rose, gaining, 0.95% to 5,483.45. Check This Out: Top 4 Risk Off Stocks That May Rocket Higher In Q2 Leading and Lagging Sectors...
Copyright 2023-2025 - www.financetom.com All Rights Reserved