Japan Stocks end mixed in choppy trade

18 Nov 2022 , 02:02 PM

Japanese share market finished choppy trading session in mixed fashion on Friday, 18 November 2022, as hawkish comments from a top U.S. Federal Reserve official renewed worry about more aggressive interest rate hikes in the United States. Stocks rose in early trade after the Bank of Japan Governor Haruhiko Kuroda stressed the need to maintain its ultra-loose monetary policy to support the economy. At closing bell, the 225-issue Nikkei Stock Average index declined 30.80 points, or 0.11%, to 27,899.77. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 0.75 points, or 0.04%, to 1,967.03. Total 19 of 33 TSE sectors closed up, with Insurance (up 1.7%), Pharmaceutical (up 1.3%), Electric Power & Gas (up 1.2%), and Textiles & Apparels (up 1.1%) issues being notable gainers. Shares of aviation companies closed down. Japan Airlines shed 0.9%, while ANA Holdings dipped 0.6%. Export related shares after the yen weakened against the U.S. dollar which bloats their overseas profits when repatriated. Suzuki Motor rose 2.2% and Honda Motor advanced 1%. ECONOMIC NEWS: The core consumer price index for Japan rose 3.6% in October on an annualized basis. The index, which excludes fresh food but includes fuel costs, rose 3% in September compared with the same period a year ago. The latest data marks the seventh consecutive month that the nation has seen inflation levels above the Bank of Japans target of 2%.Powered by Capital Market – Live News