On the Tokyo Stock Exchange, the flagship Nikkei index closed down 0.72% to 39,081.71 points, and the broader Topix index fell 0.31% to 2719.87 points.
Markets in Asia were dominated by a wait-and-see attitude on Wednesday, with investors remaining on guard before a highly anticipated communication from the American central bank (Fed), while a possible merger project between Honda and Nissan shook the Stock Exchange. Tokyo.
On the Tokyo Stock Exchange, the flagship Nikkei index closed down 0.72% to 39,081.71 points, and the broader Topix index fell 0.31% to 2719.87 points.
Trade remained “contained”, “awaiting the meeting” of the monetary committee of the American central bank (Fed) later in the day, underline experts from the Tokai Tokyo Intelligence firm.
The consensus of analysts expects a drop of 0.25 points in the institution’s key rates. But several data demonstrating the persistence of inflation and the resilience of growth in the United States encourage investors to be cautious.
The latest, retail sales came out better than expected in November, up 0.7% over one month against 0.5% expected by analysts’ consensus, according to figures published on Tuesday.
“There are no positive surprises regarding US inflation in November: if it increased, this is mainly due to inflation in wholesale food products” but core inflation excluding food and energy “remains stable”, leaving the Fed “room to recalibrate its policy”, estimate MUFG analysts.
While recognizing “uncertainty about future monetary policy measures, in particular with regard to potential increases in (US) customs duties by the future Trump administration, which could have serious inflationary consequences”.
In this context, the foreign exchange market remained tight and not very lively: the Japanese currency was perfectly stable around 07:00 GMT at 153.47 yen per dollar, while the European currency gained a little ground, at 1.0510 dollars per dollar. euro (+0.18%).
On the Seoul Stock Exchange, the flagship Kospi index rose 1.12%. In Sydney, the ASX 200 index lost 0.06%.
The automobile makes Tokyo buzz
“With the market as a whole lacking direction, the emphasis was placed on a few individual stocks”, like the car manufacturers after press information, observe the experts at Tokai Tokyo.
Already associated in a “strategic partnership”, the Japanese automobile giants Honda and Nissan will begin talks with a view to a merger and will soon sign a memorandum of understanding for the new entity, which their compatriot Mitsubishi could also join, the Nikkei business daily said.
Honda acknowledged that a merger was “among the possibilities”, while denying that it had already been done.
Nissan’s stock was temporarily suspended on the Tokyo Stock Exchange before soaring 24%, the maximum limit imposed on it. Mitsubishi jumped 19.64%, while Honda fell 3.03%.
Kioxia, a Japanese memory chip giant, entered the Tokyo stock market in one of the biggest IPOs of the year in the country, valuing the company at around $5 billion.
In the midst of booming semiconductor production in the country, these first steps were sustained, but without excessive enthusiasm: the title closed at 1,601 yen, climbing some 10% compared to its introductory price.
Chinese markets rise, oil sluggish
On the Hong Kong Stock Exchange, the Hang Seng index rose 0.95% to 19,887.49 points around 07:00 GMT. The Shanghai composite index rose by 0.72% and that of Shenzhen by 0.52%.
According to Standard Chartered analysts, the markets were digesting press information according to which Chinese leaders plan to renew for 2025 the official objective of economic growth of around 5%, even if it means widening the budget deficit to achieve this.
The oil market remained sluggish: the price of a barrel of WTI gained 0.14% to $70.18, that of Brent from the North Sea gained 0.10% to $73.26.
