JKB Financial Services Ltd.

As on : 26-Nov-2024

Market Commentary - Foreign Markets
26-Nov-2024 16:30

Japanese markets fall sharply

Japanese markets fell sharply, with a stronger yen and tariff concerns keeping investors nervous. The Nikkei average dipped 0.87 percent to 38,442 ahead of November inflation numbers from the Tokyo region due later in the week.

The broader Topix index settled 0.96 percent lower at 2,689.55. Tech giants Advantest, Tokyo Electron and Screen Holdings lost 2-4 percent.

The Japanese government retained its economic assessment for the fourth straight time on Tuesday, saying the economy is recovering at a moderate pace, although it remains pausing in part.

In the monthly economic report for November, the Cabinet Office said the moderate recovery is likely with improving employment and income situation, supported by the effects of the policies.

However, the government cautioned that the slowdown of overseas economies, the effects of high interest rates in the U.S. and Europe, and the lingering stagnation of the real estate market in China are downside risks to the Japanese economy.

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