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Nikkei dips on yen intervention fears

Japan’s Nikkei share average fell, reversing much of its gains from the previous session. This drop comes as the yen’s slide past the closely watched 160 per dollar level put traders on high alert for potential intervention. The Nikkei closed down 0.82% at 39,341.54 as technology shares underperformed, dragging on the benchmark index after a sell-off in U.S. chipmaker Micron Technology in after-hours trading soured the market mood. The technical test for the Nikkei now is whether it can reclaim the May 20 high of 39,437 by the end of the week. If it fails, Wednesday’s rally may have been just an anomaly. Read more for the latest updates about the Nikkei.

why is Nikkei bullish

Disclaimer:

The market remains cautious as traders monitor yen movements and upcoming economic data releases.

Publication date:

2024-07-02 05:23:06 (GMT)

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