Wednesday, November 13, 2024

Nikkei 225 Closes 1.71% Lower Ahead of CPI Data

 


PT Rifan Financindo Berjangka - The Nikkei 225 Index fell 0.7% to around 39,100 while the broader Topix Index lost 0.3% to 2,733 on Wednesday, tracking losses on Wall Street overnight as the market took a breather from the postelection rally.


Domestically, data showed that Japan's producer prices rose at the fastest pace in 14 months in October, highlighting ongoing inflationary pressures.


Investors also continued to evaluate the impact of Japan's 10 trillion yen stimulus plan for AI chipmakers which aims to strengthen critical supply chains amid ongoing US-China trade tensions.


Technology stocks led the declines, with notable losses in Disco (-1.1%), Lasertec (-1%), and Advantest (-1.4%). SoftBank Group also saw volatility, despite reporting strong quarterly gains of 608.5 billion yen from its Vision Fund.


Meanwhile, Nissan Motor climbed for the second consecutive day after activist investor Effissimo disclosed a stake in the struggling automaker. PT Rifan Financindo Berjangka.


Source : Trading Economics


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