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Market Commentary - Foreign Markets

Japanese markets tumble on Fed and BoJ policy uncertainties

10-Jan-2025, 04:25
Japanese markets tumbled due to Fed and BoJ policy uncertainties. The Nikkei average fell 1.05 percent to 39,190.40 while the broader Topix index settled 0.80 percent lower at 2,714.12.

Uniqlo owner Fast Retailing slumped 6.5 percent following its disappointing earnings report. Among the top gainers, Nvidia supplier Advantest soared 5.1 percent.

Japan's leading index as well as coincident index declined in November, preliminary data from the Cabinet Office showed on Friday.

The leading index, which measures future economic activity, dropped to 107.0 in November from 109.1 in October. Likewise, the coincident index that measures the current economic situation registered 115.3, down from 116.8 in the previous month.

On the other hand, the lagging index improved to 108.7 in November from 107.5 a month ago.