Japan Stocks Slip in Thin Trading as Yen Drags Exporters Lower
Japanese stocks fell in light trading, with the benchmark equity gauge falling from a one-month high, as a stronger yen dragged exporters lower and as investors awaited the timing of a U.S. interest rate increase.
The Topix index lost 0.3 percent to 1,361.73 as of 9:02 a.m. in Tokyo, with trading volume 12 percent below the 30-day intraday average. The measure is headed toward a 1.5 percent gain this month after closing Monday at its highest level since April. The Nikkei 225 Stock Average slipped 0.5 percent to 16,988.64. The yen gained 0.3 percent to trade at 110.83 per dollar after dropping 0.7 percent yesterday. Futures on the S&P 500 Index added 0.2 percent from Friday’s session. U.S. markets were closed Monday for Memorial Day.
Japan’s industrial production climbed 0.3 percent in April from a month earlier, beating economist estimates for a 1.5 percent drop, data on Tuesday showed. It fell 3.5 percent from a year ago. Separately, data showed the job-to-applicant ratio rise to 1.34 last month, the highest since 1991 and up from 1.3 in March. The nation’s jobless rate held steady at 3.2 percent, meeting economists’ estimates.
Source : Bloomberg
The Topix index lost 0.3 percent to 1,361.73 as of 9:02 a.m. in Tokyo, with trading volume 12 percent below the 30-day intraday average. The measure is headed toward a 1.5 percent gain this month after closing Monday at its highest level since April. The Nikkei 225 Stock Average slipped 0.5 percent to 16,988.64. The yen gained 0.3 percent to trade at 110.83 per dollar after dropping 0.7 percent yesterday. Futures on the S&P 500 Index added 0.2 percent from Friday’s session. U.S. markets were closed Monday for Memorial Day.
Japan’s industrial production climbed 0.3 percent in April from a month earlier, beating economist estimates for a 1.5 percent drop, data on Tuesday showed. It fell 3.5 percent from a year ago. Separately, data showed the job-to-applicant ratio rise to 1.34 last month, the highest since 1991 and up from 1.3 in March. The nation’s jobless rate held steady at 3.2 percent, meeting economists’ estimates.
Source : Bloomberg
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