Tokyo Stocks End Monday with Mixed Results
The benchmark Nikkei 225 ended down 668.44 points, or 1.31%, from Friday at 50,168.11. In contrast, the broader Topix index rose 7.64 points, or 0.22%, to 3,431.47, posting a record closing high.
Losses were led by nonferrous metals along with iron and steel stocks, while land transportation and banking shares recorded notable gains.
The Nikkei remained under pressure throughout the session and briefly slipped below the psychologically important 50,000 level, dragged down by heavy selling in semiconductor and AI-linked stocks following declines in their U.S. counterparts late last week.
At the same time, the market found support from purchases of bank and insurance shares, fueled by optimism over stronger earnings prospects amid expectations of a Bank of Japan interest rate hike and rising long-term bond yields.
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.
Legal Disclaimer:
EIN Presswire provides this news content "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 author above.
