Japanese stocks
Japan’s Nikkei index ended a three-day winning streak on Thursday, with investors choosing to take profits after a sharp rise in the last session, while a rise in US Treasury bond yields also affected sentiment.
The Nikkei index closed 0.28 percent lower at 33,424.41 points, giving up gains of 0.28 percent achieved earlier in the session. Yesterday, Wednesday, it jumped 2.5 percent, exceeding the level of 33 thousand points for the first time in nearly two months.
On a monthly basis, it rose 8.3 percent.
“Investors bought stocks at one point, betting that the Nikkei would continue its momentum and surpass this year’s highest closing level recorded in July,” Seiichi Suzuki, senior stock market analyst at the Tokai Tokyo Research Institute, told Reuters. “But the buying was short-lived and the impact of rising bond yields… US Treasury overnight on sentiment.
US Treasury bond yields rose from their lowest levels in two months last night despite signs of slowing inflation after a review of retail sales data showed strong gains in September.
The broader Topix index fell 0.19 percent to 2,368.62.
Chip-related stocks declined, such as Advantest, which fell 1.81 percent, becoming the biggest drag on the Nikkei Index, and Tokyo Electron, which lost 0.1 percent.
#Japanese Nikkei Index
#Japan
2023-11-16 07:53:56
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