Home ›› 18 Nov 2022 ›› Stock
Tokyo’s key Nikkei index closed lower on Thursday after Wall Street shares slumped as a major US retailer warned of a weak holiday season.
The benchmark Nikkei 225 index dipped 0.35 per cent, or 97.73 points, to 27,930.57, but the broader Topix index edged up 0.15 per cent, or 2.99 points, to end at 1,966.28.
US shares closed lower overnight as Target’s weak outlook for the holiday season sparked fresh concern about the retail industry.
The Dow Jones Industrial Average dipped 0.1 per cent while the broad-based S&P 500 lost 0.8 per cent. The tech-rich Nasdaq Composite Index fell 1.5 per cent.
“Target is concerned about a weakening consumer and the big profit miss is a bad sign heading into the key holiday period,” said Edward Moya, senior market analyst at OANDA.
After a glum start triggered by US falls, trade in Tokyo was “mixed, as there were no fresh market-moving events”, Mizuho Securities said.
The dollar changed hands at 139.48 yen in Asian trade, down from 139.54 yen on Wednesday in New York.
Chip-related shares were lower, with semiconductor-making equipment manufacturer Tokyo Electron dropping 2.43 per cent to 45,270 yen.
