Japanese stock index declines amid profit taking
Japan’s Nikkei stock index fell on Tuesday, with investors taking profits as stock prices rose while they continued to evaluate local companies’ results reports.
The Nikkei index closed down 0.53% at 36,160.66 points, with 70 of its 225 components rising compared to a decline of 154.
And he fellTopix indicator The broader range rose 0.68% to 2539.25 points.
The two Japanese stock indices tracked their counterparts on Wall Street, which closed lower last night in light of the market’s reaction to the mixed results reports in the United States and the Federal Reserve (the US central bank) ruling out any imminent cut in interest rates.
The financial results, along with rising stock prices, led to some profit-taking.
Toyota Motor was among the companies that announced third-quarter profits today, Tuesday. The company’s heavyweight stock gave a brief boost to the market after announcing an increase in operating profit expectations for the full year by about 9%.
The automaker’s shares rose 4.78% in a sharp rebound after falling in the morning session.
Among other stocks that rose thanks to the positive financial results was Mitsubishi Heavy Industries, which rose 6.43%.
achieving the best performance today, followed by Nippon Electric Glass, which gained 5.88%.
Semiconductor-related stocks also rose. Advantest shares advanced 2.95% after NVIDIA shares recorded a new record high last night after Goldman Sachs raised its target price.
The largest percentage losses in the index came from electrical equipment manufacturer Omron Corp, which fell 15.27%, followed by Pacific Metals, which fell 10.07%, and Yamato Holdings, which fell 7.28%.
