SYDNEY, June 5 (Reuters) - Japanese stocks slipped as
investors locked in some of the week's gains on Friday, but a
weaker yen and overall optimism about an economic rebound from a
coronavirus-driven slump kept the major indexes on track for a
weekly rise.
The benchmark Nikkei average .N225 dropped 0.35% to
22,616.77 by the midday break, off its more than three-month
high touched on Thursday. But the index was still up 3.4% for
the week.
This week's global equity rally lost some steam overnight as
traders took winnings from recent gains, backing away ahead of
Friday's U.S. nonfarm payrolls data, which is expected to show
further deterioration in the U.S. jobs market.
MKTS/GLOB The broader Topix .TOPX eased 0.33% to 1,598.51 by the
midday recess, also off its more than three-month high, but with
more than half of the 33 sector sub-indexes on the Tokyo
exchange trading higher. For the week, the Topix was up 2.2% so
far.
Analysts said although some profit-taking was unavoidable
after the recent rallies, the overall sentiment is still
positive.
Reflecting continued confidence in the revival of the global
economy, the safe-haven yen weakened further, with the
dollar/yen JPY=EBS hitting a fresh two-month high of 109.235
yen on early Friday and the euro/yen touching EURJPY=EBS a
13-month high of 123.965 yen overnight. FRX/
As a weak yen boosts Japanese manufacturers' profits made
abroad when repatriated, shares of export-oriented automakers
were in demand. Mazda Motor 7261.T jumped 4.8%, while Nissan
Motor 7201.T and Honda Motor 7267.T gained 2.3% and 2.5%,
respectively.
Longer-term U.S. Treasury yields jumped overnight, providing
a tailwind for Tokyo-listed financial stocks .IINSU.T
.IBNKS.T . Dai-ichi Life Holdings 8750.T advanced 4.6% and
Sumitomo Mitsui Financial Group (SMFG) 8316.T climbed 1.8%.
US/N
- English (USA)
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Tokyo shares slip but set for weekly gain on weaker yen, recovery hopes
Published 05/06/2020, 04:19
Updated 05/06/2020, 04:24
Tokyo shares slip but set for weekly gain on weaker yen, recovery hopes
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.