Japanese Shares Ease as Investors Lock in Tech Gains

Published on 11/04/2025 at 01:50 am EST
(MT Newswires) -- Japanese shares closed lower on Tuesday as investors took profits after recent tech-driven gains, while weak U.S. data and mixed comments from Federal Reserve officials weighed on sentiment.
The Nikkei 225 fell 1.74%, or 914.14 points, to end at 51,497.20.
Federal Reserve officials offered differing views on the economy Monday amid a government data blackout, with Governor Stephen Miran backing deeper rate cuts and Chicago Fed President Austan Goolsbee cautioning against further easing while inflation stays high.
The Fed cut rates last week, but Chair Jerome Powell signaled it may be the last this year.
In economic news, Japan's manufacturing PMI slipped to 48.2 in October from 48.5, marking continued contraction, S&P Global said. New orders fell at the fastest pace in 20 months, exports weakened, and output declined again. Firms raised prices as costs climbed but stayed mildly optimistic on future demand.
On the corporate front, Mitsubishi Motors, which ended 0.5% lower, will record 29.6 billion yen in non-operating income for the year ending March 2026 after its U.S. unit, Mitsubishi Motors North America, decided on Oct. 31 to pay a $199 million dividend.
Suruga Bank , which ended 0.7% higher, said the Shizuoka District Court partially upheld its damages claim against former directors over the bank's share house loan scandal, ordering six ex-directors to pay a total of 6.34 billion yen.
Erex , which ended 1.9% higher, and South Korea's Samsung C&T Japan will form a 50-50 joint venture to build large-scale battery storage systems across Japan. The partnership will develop grid-connected units exceeding 20 megawatts to stabilize renewable power supply and co-invest in a 2-megawatt project in Miyazaki prefecture.

Sumber : MT Newswires