Japan’s Nikkei softens on profit-taking as investors weigh earnings
From Nasdaq:
Japan’s Nikkei share average fell 0.53% to 36,160.66, with 70 of 225 constituents gaining. The broader Topix fell 0.68% to 2,539.25 in line with Wall Street peers. Toyota Motor announced strong third-quarter earnings, pushing shares up by 4.78%, while Mitsubishi Heavy Industries was the best performer of the day.
Nippon Electric Glass and Nissui Corp followed with gains of 5.88% and 5.57%, respectively. Semiconductor-related shares also rose, with Advantest gaining 2.95%. On the other hand, Omron Corp and Pacific Metals Co Ltd experienced percentage losses, declining by 15.27% and 10.07%, respectively. Delivery service Yamato Holdings Co Ltd also lost 7.28%.
The market, reacting to mixed U.S. earnings reports and pushback from the Federal Reserve, saw overall profit-taking and focus on individual stocks. This, combined with high stock prices and wake of Japan’s earnings season, led to price fluctuations and resulted in both gains and losses.
Read more: Japan’s Nikkei softens on profit-taking as investors weigh earnings