Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🤑 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

Japan stocks inch up, weak yen helps offset Fed disappointment

Published 08/01/2019, 10:00 AM
Japan stocks inch up, weak yen helps offset Fed disappointment
USD/JPY
-
JP225
-
TOPX
-
8604
-
4452
-
4502
-
7267
-
7751
-
7974
-
7203
-

By Shinichi Saoshiro
TOKYO, Aug 1 (Reuters) - Japan's Nikkei share average
recouped early losses and inched up on Thursday, supported by a
weaker yen which helped offset disappointment that the U.S.
Federal Reserve is not embarking on a lengthy easing cycle.
The Fed on Wednesday lowered rates for the first time since
2008, as widely expected, but Chairman Jerome Powell said the
move was not the start of a long series of rate cuts, sending
U.S. share markets lower. The Nikkei .N225 was up 0.07% at 21,536.54 points as of
0151GMT.
The index initially fell as much as 1% but clawed back
ground as the yen JPY= slid to a two-month low against the
dollar after the Fed proved to be less dovish than anticipated.
Shares of exporters, which benefit from a weaker yen,
advanced. Toyota Motor Corp 7203.T rose 1.3%, Honda Motor Co
7267.T edged up 0.9%, Canon Inc 7751.T added 1% and Nintendo
7974.T advanced 3.8%.
Nomura Holdings 8604.T soared 8.5% the investment bank
said its first-quarter profit soared more than ten-fold after
restructuring its portfolio. Another blue chip which made big gains was Takeda
Pharmaceutical 4502.T , which gained 5.8% after its sales in
the April-June quarter increased 88.8%. Kao Corporation 4452.T , on the other hand, fell 3.5% after
the cosmetic product maker saw its January-June net profit
decline 8.8%. The broader Topix .TOPX rose 0.15% to 1,567.45.

(Editing by Kim Coghill)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.