Japan’s Nikkei ends lower

Japan’s key Nikkei index ended lower on Thursday, tracking falls on Wall Street ahead of the release of key US inflation data, AFP reported.

The benchmark Nikkei 225 index was down 0.11 percent, or 41.84 points, to end at 39,166.19, while the broader Topix index edged up 0.03 percent, or 0.78 points, to 2,675.73.

The dollar fetched 149.89 yen, against 150.70 yen in New York.

“Semiconductor-linked, high-priced stocks were sold, following falls on Wall Street where investors opted to wait and see” ahead of the inflation data, IwaiCosmo Securities said.

Overnight, Wall Street stocks slipped ahead of the US personal consumption expenditures (PCE) price index for January, which is expected to influence the Federal Reserve’s upcoming policy decisions.

On Thursday, government data showed that Japan’s industrial output last month slumped the most since the Covid-19 pandemic, adding to the gloom for the world’s number four economy after going into recession in late 2023.

Output at factories and mines in January was down 7.5 percent from the previous month — the largest month-on-month decline since May 2020, when Covid brought global economies to a standstill.

Among major shares in Tokyo, SoftBank Group lost 1.5 percent to 8,790 yen, chip maker Renesas Electronics was down 3.06 percent at 2,454.5 yen and chip-testing equipment maker Advantest was off 0.2 percent at 6,910 yen.

Sony Group was up 0.2 percent to 12,945 yen.

Sompo Holdings was up 0.9 percent to 8,782 yen after a report said it and three other major Japanese insurers will sell their entire cross-shareholdings worth about 6.5 trillion yen ($43 billion) over the next few years.