Japan's Nikkei falls on Wall Street declines, stronger yen
TOKYO, Nov 1 (Reuters) -Japan's Nikkei share average slipped 2% on Friday, tracking Wall Street's decline overnight, while the yen's strength weighed on sentiment.
The Nikkei .N225 was down 2% at 38,287.99 as of 0006 GMT, while the broader Topix .TOPX fell 1.48% at 2,655.77.
All three U.S. stock indexes closed lower on Thursday after Microsoft and Meta Platforms highlighted growing artificial intelligence costs that could hit their earnings, curbing enthusiasm for megacaps that have fueled the market rally this year. .N
The dollar fell against the yen on Thursday, after the Bank of Japan's less dovish remarks and U.S. data suggested upward price pressures continue to ease. FRX/
A stronger yen tends to hurt exporter shares as it decreases the value of overseas profits in yen terms when firms repatriate them to Japan.
Chip-making equipment maker Tokyo Electron 8035.T fell 3.42% and Uniqlo-brand owner Fast Retailing 9983.T slipped 1.45%.
Reporting by Junko Fujita; editing by Alan Barona
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
