Japan Stocks end mixed

Japan share market finished session with mixed note on Thursday, 09 February 2023, with the Topix index rising marginally above the neutral line, while the Nikkei225 index closed lower, on tracking downbeat performances on Wall Street overnight, amid speculation that the Federal Reserve will keep interest rates at elevated levels for longer than expected.

The 225-issue Nikkei Stock Average index declined 22.11 points, or 0.08%, to finish at 27,584.35. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 1.03 points, or 0.05%, to 1,985.

Total 21 of 33 TSE sectors advanced, with Textiles & Apparels, Glass & Ceramics Products, Nonferrous Metals, Iron & Steel, Oil & Coal Products, and Wholesale Trade issues being notable gainers. Electric Power & Gas, Rubber Products, and Land Transportation issues were notable losers.

 

Chip-related stocks declined, with Tokyo Electron slumping 2.1%, while chip-testing equipment maker Advantest slid 1.2%.

Toyota Motor edged up 0.2% after posting a surprise 22% rise in third-quarter operating profit to 956.7 billion yen as a weaker yen and higher sales volumes helped the Japanese automaker overcome a jolt from soaring raw-materials costs. Toyota expects to earn 2.36 trillion yen ($18 billion) in profit for the full fiscal year, unchanged from its earlier forecast.

CURRENCY NEWS: Yen appreciated to lower 131 level against the dollar. The dollar stood at 131.28 yen in late Tokyo trading Thursday, down 0.07% from 131.37 on Wednesday.

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