Japan Market end flats

Japan stocks were mixed on Wednesday, 15 May 2024, with the Nikkei settling modestly above neutral line, while the broader TOPIX index closed edge lower, as positivity from better than expected earnings from Sony Corp offset by prevailing caution ahead to the release of U.S. CPI report later in the day for clues on the Federal Reserve's next steps.

Market gains were led by precision instrument, rubber product, and electric appliance shares, while main decliners included oil and coal product, real estate, and land transportation issues.

The 225-issue Nikkei Stock Average index advanced 29.67 points, or 0.08%, to finish at 38,385.73. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 0.07 point, 0.00%, to 2,730.88.

 

Shares of Sony Group jumped 9% after the tech and entertainment conglomerate pledged to boost shareholder returns and forecast higher annual profit. Chip-testing making equipment maker Advantest advanced 3.12%.

Isetan Mitsukoshi Holdings surged 14% after the department store operator reported gains in its annual sales and profits.

CURRENCY NEWS: The Japanese yen was little changed in lower 156 level against greenback on Wednesday.

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