The Nikkei index closed down 0.9% to 48,281.47 in today's trading, erasing all of its early-session gains. Risk-off sentiment reigned, resulting in bargain hunting not being strong enough to withstand selling pressure. Global stock markets have been under considerable pressure in recent days.
FOREX.com Global Macro Analyst, Fawad Razaqzada, said global markets are under intense pressure. One of the triggers for negative sentiment in the technology sector is concerns ahead of Nvidia's financial report release on Wednesday local time. Investors are opting for caution and tending to reduce exposure to risky assets.
Several large stocks in the Nikkei index were the main drags. MODEC Inc. shares plunged around 8.0%, Kioxia Holdings fell 5.6%, and Ebara plunged 7.3%. In the foreign exchange market, the USD/JPY pair moved relatively stable around 155.43, not far from its closing level on Tuesday in New York, which was around 155.52. (asd)
Source: Newsmaker.id
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