Arab Today, arab today nikkei drops 038 ahead of central bank meeting
Last Updated : GMT 08:04:15
Arab Today, arab today
Arab Today, arab today

Nikkei drops 0.38% ahead of central bank meeting

Arab Today, arab today

Arab Today, arab today Nikkei drops 0.38% ahead of central bank meeting

Nikkei drops
Tokyo - XINHUA

 The Nikkei stock index lost 0.38 percent on Tuesday as investors offloaded issues to lock in gains ahead of key central bank meetings in the U.S. and Japan this week.
The Nikkei 225 index dropped 58.81 points to finish at 15,329. 91, while the broader Topix index of all first-section issues lost 0.18 percent, or 2.28 points, to close at 1,252.00.
Investors were broadly selling from the get-go following the U. S. dollar's decline and the market's recent gains, and local traders said that all eyes were now focused on the outcome of central bank meetings in both the U.S. and Japan.
The U.S. Federal Reserve will start its two-day Federal Open Market Committee meeting later in the day, although the Fed is unlikely to announce any changes to its plans to scale down its stimulus program, strategists here said.
"The Fed vigil, as well as recent sharp weakness in Shanghai shares, is combining to dampen Japan investor enthusiasm. Nobody really expects the U.S. central bank to derail the wind-down of its own stimulus program because of global economic growth fears, but the direction and pace of a rise in U.S. interest rates is a real concern,"said Tatsunori Kawai, chief strategist at kabu.com Securities.
"How the Fed views future rate moves could go a long way to influencing dollar-yen, and thus Japan stock trading. 'How strong is the dollar likely to remain?' is the big question,"Kawai added.
Japan's central bank, for its part, will hold a one-day policy meeting on Friday and while its chief Haruhiko Kuroda reiterated that recent yen moves were of benefit to the economy and that the bank's 2 percent inflation target was on track, comments made by his deputy provoked some investor consternation.
The bank's deputy governor, Kikuo Iwata, told lawmakers that next year's inflation target couldn't be expected to run like a" train schedule."
"Market players didn't dare to take aggressive positions ahead of closely watched events over monetary policies in the United States and Japan, although both of them are likely to end calmly," said Ayako Terada from Nomura Securities Co.'s investment research department.
With the U.S. dollar changing hands at 107.82 yen this afternoon in Tokyo, compared to 107.78 yen logged in New York on Monday afternoon, exporters, reliant on a weaker yen to boost profits, made overseas and overall competitiveness came under pressure.
Canon fell 2.5 percent to 3,195 yen, with pressure on the stock compounded by the firm saying its quarterly operating profit fell by a fifth on falling demand for its cameras and its revenue had dropped 4.5 percent to 872.2 billion yen.
Owing to a weaker yen, however, Canon raised its full-year earnings estimates to 370 billion yen for the year, from an initial estimate of 365 billion yen.
General contractor Kajima slumped 6 percent to 482 yen, after cutting its net income forecast for the current year by 3 billion yen to 14 billion yen.
Fujikura, an electric wire and cable maker, tumbled 7.9 percent to 446 yen, after saying that one of its China-based subsidiaries and its employees had been indicted on bribery charges.
Issues linked to the Ebola virus continued to find traction Tuesday, with Fujifilm Holdings adding 0.5 percent to 3,710 yen, while clean air system maker Airtech Japan surged 9.8 percent to close at 1,264 yen.
Semiconductor maker Sumco was also in the spotlight, gaining 2. 6 percent to finish at 1,326 yen, after a recommendation by Jefferies, who also upped their profit estimate for the firm to 25 billion yen for the current business year.
Trading volume on Tuesday rose to 1.87 billion shares on the Tokyo Exchange's First Section, up from Monday's volume of 1.82 billion shares, with declining issues outnumbering advancing ones by 1,033 to 639. The Nikkei stock index lost 0.38 percent on Tuesday as investors offloaded issues to lock in gains ahead of key central bank meetings in the U.S. and Japan this week.
The Nikkei 225 index dropped 58.81 points to finish at 15,329. 91, while the broader Topix index of all first-section issues lost 0.18 percent, or 2.28 points, to close at 1,252.00.
Investors were broadly selling from the get-go following the U. S. dollar's decline and the market's recent gains, and local traders said that all eyes were now focused on the outcome of central bank meetings in both the U.S. and Japan.
The U.S. Federal Reserve will start its two-day Federal Open Market Committee meeting later in the day, although the Fed is unlikely to announce any changes to its plans to scale down its stimulus program, strategists here said.
"The Fed vigil, as well as recent sharp weakness in Shanghai shares, is combining to dampen Japan investor enthusiasm. Nobody really expects the U.S. central bank to derail the wind-down of its own stimulus program because of global economic growth fears, but the direction and pace of a rise in U.S. interest rates is a real concern,"said Tatsunori Kawai, chief strategist at kabu.com Securities.
"How the Fed views future rate moves could go a long way to influencing dollar-yen, and thus Japan stock trading. 'How strong is the dollar likely to remain?' is the big question,"Kawai added.
Japan's central bank, for its part, will hold a one-day policy meeting on Friday and while its chief Haruhiko Kuroda reiterated that recent yen moves were of benefit to the economy and that the bank's 2 percent inflation target was on track, comments made by his deputy provoked some investor consternation.
The bank's deputy governor, Kikuo Iwata, told lawmakers that next year's inflation target couldn't be expected to run like a" train schedule."
"Market players didn't dare to take aggressive positions ahead of closely watched events over monetary policies in the United States and Japan, although both of them are likely to end calmly," said Ayako Terada from Nomura Securities Co.'s investment research department.
With the U.S. dollar changing hands at 107.82 yen this afternoon in Tokyo, compared to 107.78 yen logged in New York on Monday afternoon, exporters, reliant on a weaker yen to boost profits, made overseas and overall competitiveness came under pressure.
Canon fell 2.5 percent to 3,195 yen, with pressure on the stock compounded by the firm saying its quarterly operating profit fell by a fifth on falling demand for its cameras and its revenue had dropped 4.5 percent to 872.2 billion yen.
Owing to a weaker yen, however, Canon raised its full-year earnings estimates to 370 billion yen for the year, from an initial estimate of 365 billion yen.
General contractor Kajima slumped 6 percent to 482 yen, after cutting its net income forecast for the current year by 3 billion yen to 14 billion yen.
Fujikura, an electric wire and cable maker, tumbled 7.9 percent to 446 yen, after saying that one of its China-based subsidiaries and its employees had been indicted on bribery charges.
Issues linked to the Ebola virus continued to find traction Tuesday, with Fujifilm Holdings adding 0.5 percent to 3,710 yen, while clean air system maker Airtech Japan surged 9.8 percent to close at 1,264 yen.
Semiconductor maker Sumco was also in the spotlight, gaining 2. 6 percent to finish at 1,326 yen, after a recommendation by Jefferies, who also upped their profit estimate for the firm to 25 billion yen for the current business year.
Trading volume on Tuesday rose to 1.87 billion shares on the Tokyo Exchange's First Section, up from Monday's volume of 1.82 billion shares, with declining issues outnumbering advancing ones by 1,033 to 639.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nikkei drops 038 ahead of central bank meeting Arab Today, arab today nikkei drops 038 ahead of central bank meeting

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 03:11 2017 Saturday ,25 February

50 Tunisian exhibitors at Gulfood 2017, Dubai

GMT 02:19 2017 Saturday ,25 February

SIEL expo, March 1-4

GMT 12:30 2017 Friday ,24 February

Norway's Telenor to leave Indian telecom market

GMT 10:17 2017 Friday ,24 February

Dow stands out as global stocks tread water

GMT 16:11 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 16:08 2017 Thursday ,23 February

BHB holds VAT seminar

GMT 13:40 2017 Thursday ,23 February

Muscat Securities Market loses 17 points
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday