Japanese Shares Fall on Market Caution
The Nikkei 225 Index dropped 0.99% to close at 68,309 on Friday, ending a two-day winning streak as investors took profits and turned more cautious over the outlook for rates and geopolitical risks. Markets continued to reel from a global bond selloff, though concerns over France’s fiscal and political outlook supported some safe-haven demand for Japanese bonds. Meanwhile, the US considered deploying an additional aircraft carrier and 10,000 troops to the Middle East. Domestically, data showed Tokyo’s core inflation accelerated to 2.7% in September, moving above the BOJ’s 2% target for the first time in nine months. In corporate news, SoftBank Group said it completed the third and final $10 billion tranche of its follow-on investment in OpenAI, bringing its total investment in the AI company to $64.6 billion. Shares of the Japanese investment giant fell nearly 6%. Despite Friday’s decline, the Nikkei gained 2.93% for the week, marking its third consecutive weekly advance.
99% to close at 68,309 on Friday, ending a two-day winning streak as investors took profits and turned more cautious over the outlook for rates and geopolitical risks. Markets continued to reel from a global bond selloff, though concerns over France’s fiscal and political outlook supported some safe-haven demand for Japanese bonds. Meanwhile, the US considered deploying an additional aircraft carrier and 10,000 troops to the Middle East. 7% in September, moving above the BOJ’s 2% target for the first time in nine months.
6 billion. Shares of the Japanese investment giant fell nearly 6%. 93% for the week, marking its third consecutive weekly advance.