Home » Nikkei 225 average continues to fall slightly; upside is heavy due to material shortages; waiting for US Nvidia results | Reuters

Nikkei 225 average continues to fall slightly; upside is heavy due to material shortages; waiting for US Nvidia results | Reuters

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Nikkei 225 average continues to fall slightly; upside is heavy due to material shortages; waiting for US Nvidia results | Reuters

On February 20th, the Nikkei Stock Average on the Tokyo stock market continued to fall slightly, dropping 106.77 yen from the previous business day to 38,363.61 yen. The photo was taken in December 2022 in Tokyo (2024 Reuters/Issei Kato)

TOKYO (Reuters) – On the Tokyo stock market, the Nikkei Stock Average continued to fall slightly to 38,363.61 yen, down 106.77 yen from the previous trading day. Japanese stocks continued to have a heavy top as domestic companies had finished announcing their financial results and there was a lack of clues as the US market was closed the previous day. Market participants were focused on the financial results of Nvidia (NVDA.O), which will be announced on the 21st, and some pointed out that there was a wait-and-see mood.

The Nikkei average started slightly higher by 39 yen compared to the previous trading day. The price increased by 271 yen to 38,742.33 yen towards the middle of the first session, but the rising momentum did not continue and the rate of increase gradually narrowed. The market was slightly weaker, and at one point fell by more than 180 yen. While some high-tech stocks, which make a large contribution to the index, fell, pushing down the index, machinery stocks and shipping stocks were strong, supporting the market.

Kazuhiro Sasaki, an analyst at Phillip Securities, said, “I think the Nikkei 225 will try to move higher in the near term, but right now it looks like it’s running out of material and is at a stalemate.” In the market, a senior economist at a domestic financial institution expressed the view that “If Nvidia’s financial results are good, it could be a factor for Japanese stocks to reach a new all-time high.” However, if Nvidia’s financial results do not meet market expectations, it is likely that there will be a correction, especially in high-tech stocks such as those related to semiconductors, which could push down the index.

TOPIX closed 0.28% lower at 2,632.30 points. At one point, it exceeded the post-bubble high. The trading value on the TSE prime market was 4,439,025 million yen. Of the 33 industries on the TSE, prices rose in eight industries, including machinery, shipping, and pharmaceuticals. Prices fell in 24 industries, including insurance, pulp and paper, and fisheries and agriculture and forestry, while air freight remained unchanged.

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Individually, Fast Retailing (9983.T), opens new tab, Advantest (6857.T), opens new tab, and Tokyo Electron (8035.T), opens new tab were slightly lower. Mainstay Toyota Motor Corporation (7203.T), opens new tab and Sony Group (6758.T), opens new tab are weak. On the other hand, Fanuc (6954.T), opens new tab was up 3.2%, and Yaskawa Electric (6506.T), opens new tab was up 3.2%.

In the prime market, 702 stocks (42%) rose in price, 899 stocks (54%) fell, and 56 stocks (3%) remained unchanged.

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