The Nikkei 225 Index fell 0.65% to close at 27,819 while the broader Topix Index lost 0.17% to 1,934 on Wednesday, sliding for the second straight session, as Japanese technology stocks tracked overnight losses on Wall Street after disappointing updates from major US tech firms dented the outlook for the sector. Investors are also bracing for US inflation data that could throw light on how aggressively the Federal Reserve would tighten going forward. Losses in the technology sector were led by Tokyo Electron (-2.6%), Advantest (-3.6%), Lasertec (-3.5), Keyence (-2%) and Sumco Corp (-3.4%). Other index heavyweights also declined, including Fast Retailing (-2.7%), Kawasaki Kisen (-1.2%) and Sony Group (-2%). Meanwhile, Toyota Motor gained 0.6% even after the automaker announced that it would suspend some production operations due to Covid infections at work sites.
Historically, the Japan Stock Market Index (JP225) reached an all time high of 38957.44 in December of 1989. Japan Stock Market Index (JP225) - data, forecasts, historical chart - was last updated on August of 2022.
The Japan Stock Market Index (JP225) is expected to trade at 27212.93 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 24554.44 in 12 months time.