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Tokyo (dpa-AFX) – The Japanese stock market is slightly lower after giving up the strong early gains on Wednesday, extending the losses of the previous two sessions, with the benchmark Nikkei index falling below the 28,800 level, as traders are digesting weak local industrial production data, the first drop since February.<\/p>\n
The cues overnight from Wall Street were broadly positive.<\/p>\n
The news of another impending State of Emergency in Tokyo and other areas due to signs of resurgence in Covid-19 infections is also bringing down the market.<\/p>\n
The benchmark Nikkei 225 Index is gaining 31.73 points or 0.11 per cent to 28,844.34, after touching a high of 28,998.99 earlier. Japanese stocks closed significantly lower on Tuesday.<\/p>\n
Market heavyweight SoftBank Group is gaining almost 1 per cent, while Uniqlo operator Fast Retailing is losing more than 1 per cent. Among automakers, Honda is gaining almost 1 per cent and Toyota is flat.<\/p>\n
In the tech space, Screen Holdings and is gaining more than 1 per cent, Advantest is adding almost 1 per cent and Tokyo Electron is edging up 0.2 per cent.<\/p>\n
In the banking sector, Sumitomo Mitsui Financial is edging down 0.2 per cent, while Mitsubishi UFJ Financial is edging up 0.2 per cent and Mizuho Financial is flat.<\/p>\n
Among the major exporters, Panasonic is edging up 0.4 per cent, while Sony and Mitsubishi Electric are losing more than 1 percent each. Canon is edging down 0.4 per cent.<\/p>\n
Among the other major gainers, M3 is gaining almost 4 per cent and Fujikura is adding almost 3 per cent, while Chugai Pharmaceutical, Taiyo Yuden, and TDK are up more than 2 per cent each. Terumo, Tokyo Tatemono, Sumitomo Dainippon Pharma, Tokai Carbon, Minebea Mitsumi, KDDI and Yokogawa Electric are rising almost 2 per cent each.<\/p>\n
Conversely, J. Front Retailing is sliding almost 4 per cent, Eisai is losing more than 3 per cent and Takashimaya is down almost 3 per cent, while Hino Motors and Marui Group are declining more than 2 per cent each. Taiheiyo Cement, Astellas Pharma and Nippon Sheet Glass are lower by almost 2 per cent each.<\/p>\n
In economic news, industrial production in Japan declined 5.9 per cent on month in May, the Ministry of Economy, Trade and Industry said on Wednesday.<\/p>\n
That was shy of expectations for a 2.4-per-cent drop following the upwardly revised 2.9 per cent gain in April (originally 2.5 per cent). This was the first drop since February.<\/p>\n
On a yearly basis, industrial production jumped 22 per cent, missing forecasts for a 27-per-cent growth following the 15.8-per-cent increase in the previous month.<\/p>\n
In the currency market, the US dollar is trading in the mid-110 yen-range on Wednesday.<\/p>\n
On Wall Street, stocks failed to hold gains and ended flat on Tuesday as investors turned cautious and largely refrained from holding positions at higher levels as they looked ahead to crucial jobs data, due later in the week.<\/p>\n
The major averages rebounded from losses in the previous session, ended with a small gain. The Dow ended the day with a gain of 9.02 points or 0.03 per cent at 34,292.29. The S&P 500 settled at 4,291.90, gaining 1.19 points or 0.03 per cent, while the Nasdaq ended up by 27.83 points or 0.19 per cent at 14,528.33.<\/p>\n
The major European markets also moved to the upside on the day. Britain’s FTSE 100 climbed 0.21 per cent and Germany’s DAX surged up 0.88 per cent, while France’s CAC 40 edged up 0.14 per cent.<\/p>\n
Crude oil futures settled slightly higher on Tuesday, after a somewhat lackluster session with traders looking ahead to the upcoming OPEC+ meeting on Thursday. West Texas Intermediate Crude oil futures for August ended up by 0.07 dollars at 72.98 dollars a barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"
Tokyo (dpa-AFX) – The Japanese stock market is slightly lower after giving up the strong early gains on Wednesday, extending the losses of the previous two sessions, with the benchmark Nikkei index falling below the 28,800 level, as traders are digesting weak local industrial production data, the first drop since February. The cues overnight from<\/p>\n","protected":false},"author":1,"featured_media":140190,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[343],"tags":[],"class_list":{"0":"post-156421","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-actualidad"},"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t