Nikkei falls for sixth consecutive session as investors warn
Date
9/11/2024 6:14:24 AM
(MENAFN) On Tuesday, Japan's NIKKEI index fell for the sixth consecutive session, closing down 0.16 percent at 36,159.16 points. Despite an early rise of approximately 0.9 percent as investors took advantage of lower stock prices following a recent market downturn, caution prevailed ahead of critical U.S. economic data and the Federal Reserve's upcoming monetary policy meeting. The market is closely watching the U.S. Consumer Price Index (CPI) report, scheduled for release tomorrow, which could influence the Fed's decision on interest rates expected next week.
The broader Topix index also lost early gains, ending the day down 0.35 percent at 2,576.54, marking its fifth consecutive decline. Among the notable decliners, Fast Retailing, the parent company of Uniqlo, saw its shares fall by 0.59 percent, while medical equipment manufacturer Terumo dropped by 3.19 percent. In contrast, the technology sector showed some resilience, with Tokyo Electron, a chipmaking equipment manufacturer, experiencing a significant 3.53 percent gain, the largest increase on the Nikkei. Additionally, SoftBank Group shares rose by 1.96 percent. Of the 225 companies listed on the Nikkei index, 86 saw gains, 138 declined, and one remained unchanged.
MENAFN11092024000045015682ID1108661360
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.