Tokyo stocks retreat amid geopolitical, economic uncertainties
T
okyo stocks retreated on Wednesday as investors grappled with heightened uncertainties surrounding US monetary policy and geopolitical tensions between Ukraine and Russia.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, dropped 62.09 points, or 0.16 percent, to close at 38,352.34. Concerns over US economic resilience and inflation reignited fears of a slower rate-cut pace by the Federal Reserve, while escalating tensions between Ukraine and Russia further dampened market sentiment.
On the positive side, several major stocks provided support. Sony Group rose amid news of acquisition talks with Kadokawa, a leader in video streaming and publishing. Meanwhile, investors anticipated the US chipmaker Nvidia's quarterly earnings report, bolstering shares in companies like Advantest, which stands to benefit from Nvidia-driven AI semiconductor demand.
The broader Topix Index also declined, shedding 11.74 points, or 0.43 percent, to close at 2,698.29, Xinhua news agency reported. Trading on the Tokyo Stock Exchange's Prime section remained subdued. Declining stocks outnumbered gainers by 997 to 600, with 48 stocks unchanged.
✔️ Tokyo stocks retreat amid geopolitical, economic uncertainties
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