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HomeLatestRoundup: Tokyo shares shut combined on yen's retreat, U.S. financial considerations

Roundup: Tokyo shares shut combined on yen's retreat, U.S. financial considerations

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TOKYO, July 15 (Xinhua) — Tokyo shares closed combined on Friday because the yen’s weak point gave exporters a lift, though features have been offset by considerations over the well being of the U.S. economic system.

The 225-issue Nikkei Stock Average added 145.08 factors, or 0.54 %, from Thursday to shut the day at 26,788.47.

The broader Topix index, in the meantime, misplaced 0.63 level, or 0.03 %, to complete at 1,892.50.

Brokers stated that following a higher-than-expected U.S. producer worth index for June launched Thursday, the yen dropped to the higher 138 yen vary versus the U.S. dollar, after touching a recent 24-year low in a single day.

This was as a result of the info coming in above par raised prospects the U.S. Federal Reserve will additional hike its rates of interest to fight inflation, regardless of considerations the transfer may tip the world’s largest economic system into recession.

They stated that whereas the yen’s drop gave exporters a lift, buying and selling was subdued forward of a three-day weekend right here.

“It’s difficult to make aggressive moves given the three-day weekend and earnings season approaching,” a market participant at a home asset administration agency was quoted as saying.

By the shut of play, miscellaneous product, electrical energy and gasoline, and transportation tools points comprised people who gained essentially the most.

Insurance, financial institution, and mining points led to decliners, in the meantime.

Issues that fell outpaced people who rose by 1,074 to 689 on the Prime Market, whereas 75 ended the day unchanged.

Among exporters advancing on the yen’s weak point, Honda Motor accelerated 0.9 %, whereas Sharp added 1.0 %.

Nikkei heavyweight Fast Retailing, operator of the Uniqlo clothes chain, was one of the best performer on the Nikkei, surging 8.7 %, after it upwardly revised its earnings projection for the present enterprise yr.

Utilities rose after the federal government right here stated that extra nuclear energy stations ought to be introduced on-line by winter, with Kansai Electric Power Co. Inc. climbing 2.4 %, whereas Chubu Electric Power Co. Inc. added 1.8 %.

But monetary points weighed in the marketplace, with Mitsubishi UFJ Financial Group dropping 2.5 %, Sumitomo Mitsui Trust Holdings dropping 2.9 %, whereas Resona Holdings ended the day 2.3 % decrease.

On the Prime Market on Friday, 1,078.31 million shares modified fingers, rising from Thursday’s quantity of 972.78 million shares.

The turnover on the ultimate buying and selling day of the week got here to 2,544.42 billion yen (18.32 billion U.S. {dollars}).

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