Tokyo stocks fell sharply on July 16 as renewed selling in South Korean semiconductor shares spread to Japan’s AI and chip-related names, while household inflation expectations hit a record high and kept pressure on the Bank of Japan to maintain a tightening bias.
Many beginner forex traders often frown upon the Tokyo trading session because of its low trading volume and liquidity levels. However, it can be a gold mine if you know which currencies to trade.
A system failure at frozen food giant Nichirei has disrupted shipments and logistics, raising the risk of product shortages and temporary closures at some Kentucky Fried Chicken restaurants while also affecting major supermarket and retail chains.
Japan's core machinery orders fell 12.4% in May from the previous month to 962 billion yen, marking the first decline in two months, the Cabinet Office said on July 15.
The Ministry of Economy, Trade and Industry said it will provide up to approximately 159 billion yen in subsidies to Israel-based chipmaker Tower Semiconductor to expand production capacity at facilities in Niigata and Toyama prefectures.
Japanese companies announced new cybersecurity services, investment products and technology initiatives on July 14, while earnings releases highlighted sharply different conditions across the housing and food-import sectors.
Tokyo stocks rebounded on July 14 after an early fall of nearly 1,000 points, as investors bought back semiconductor and artificial intelligence-related shares while a recovery in South Korean equities and easing Japanese bond yields helped restore risk appetite.
Mitsubishi UFJ Financial Group became Japan's most valuable company for the first time on the Tokyo stock market on July 13, overtaking Toyota Motor as expectations grow that higher interest rates will lift bank earnings.