As of November 19, 2024, Japan's Nikkei Stock Average fell by 1.09%, closing at 38,220.85. This decline was influenced by recent losses on Wall Street, where concerns over inflation and economic uncertainty have unsettled investors [fff8036f]. The Tokyo stock market's performance has been mixed, with technology stocks reflecting U.S. declines, particularly after the appointment of a vaccine skeptic to the U.S. health department, which caused Chugai Pharmaceutical's shares to plummet by 10% [fff8036f].
The broader Topix index also experienced a downturn, losing 0.73%. In addition, the yen weakened significantly, trading at 154.32 per dollar, which has raised concerns among exporters [fff8036f]. The Bank of Japan's Governor Kazuo Ueda refrained from providing clear guidance on the timing of potential interest rate hikes, citing external risks, including uncertainties surrounding the U.S. economy [fff8036f].
This market activity follows Wall Street's decline on November 15, 2024, driven by inflation concerns after Donald Trump's recent election victory. Investors are particularly focused on Nvidia's upcoming earnings report scheduled for November 20, 2024, which is expected to provide further insights into the tech sector's performance [fff8036f].
Overall, the interplay between global market trends, local economic indicators, and the Bank of Japan's monetary policy continues to shape investor sentiment in Japan as we approach the end of November 2024.