Nikkei Drops, Tech Stocks Pressure Japanese Stocks!
Japanese stocks weakened on Thursday (May 28th), with the Nikkei 225 falling 0.47% to close at 64,693, while the Topix fell 0.41% to 3,902. This correction came after a rally that had brought the index to a record, as pressure returned to technology stocks.
Global sentiment added to the cautious mood following reports of the latest US attack on Iran. At the same time, Iran's Revolutionary Guard claimed to have targeted a US air base without specifying the location, prompting the market to reassess the risk of escalation even as talks are still ongoing.
Domestically, Bank of Japan Governor Kazuo Ueda previously warned of rising inflationary pressures due to higher oil prices, but did not give a clear signal whether the BoJ would raise interest rates at its next policy meeting. The combination of energy inflation and policy uncertainty kept the market on the defensive.
The technology sector led the decline. SoftBank Group fell 2%, Fujikura weakened 2.4%, Advantest fell 2.9%, and Lasertec fell 3.4%, indicating profit-taking and more selective rotation after a strong rally. (asd)
Source: Newsmaker.id
