Japanese Stocks Follow Gains on Wall Street
The Nikkei 225 Index climbed 0.2% to above 62,300 on Thursday, recovering part of the previous session's losses and tracking Wall Street's gains. Sentiment improved after Democratic victories in the US midterm elections drove oil prices sharply lower on expectations of a potential end to the Middle East conflict. Retailers and automakers led the recovery in Japan, with notable gains from Fast Retailing (9.5%), Nintendo (5.3%) and Toyota Motor (6.9%). Banking shares also moved higher, including Mitsubishi UFJ (3.2%) and Sumitomo Mitsui (1.7%). Meanwhile, technology and artificial intelligence-related stocks underperformed as investors weighed potential implications for data-center development under Democratic control of the US Congress. Among the biggest decliners were Kioxia Holdings (-7.3%), Advantest (-8.5%) and SoftBank Group (-6.2%).
The Nikkei 225 Index climbed 0.2% to above 62,300 on Thursday, recovering part of the previous session's losses and tracking Wall Street's gains. Sentiment improved after Democratic victories in the US midterm elections drove oil prices sharply lower on expectations of a potential end to the Middle East conflict. Retailers and automakers led the recovery in Japan, with notable gains from Fast Retailing (9.5%), Nintendo (5.3%) and Toyota Motor (6.9%). Banking shares also moved higher, including Mitsubishi UFJ (3.2%) and Sumitomo Mitsui (1.7%).
Meanwhile, technology and artificial intelligence-related stocks underperformed as investors weighed potential implications for data-center development under Democratic control of the US Congress. Among the biggest decliners were Kioxia Holdings (-7.3%), Advantest (-8.5%) and SoftBank Group (-6.2%).