

Nikkei Rebounds on Softer Yen after Sharp Sell-off

Japanese stock market index Nikkei (Symbol: Nikkei225) bounced back, in early trading after a steep decline in the previous session. The softer yen provided a tailwind for export-oriented companies, particularly automakers and chip-related firms, reversing some of the losses. Nikkei gained while the broader Topix index increased. After reaching an intraday high, the index faced some resistance, pulling back towards its close, though it remained above the support level. Market participants are closely monitoring U.S. economic developments, which have been driving global market sentiment. If the Nikkei manages to break above the resistance, further gains could follow, while a break below might signal a retracement towards the lower support levels. Read more to find out about the Nikkei latest updates.

Nikkei latest updates

Disclaimer:

Further depreciation of the Japanese yen could provide continued support for export-heavy sectors. However, any signs of strength or further hawkish signals from Japan’s new leadership may cause renewed volatility. For now, the weaker yen offers a favourable environment for Japanese exporters, and the Nikkei may continue to see gains if global conditions remain stable. Traders are advised to prioritize proper risk management to make well-informed trading decisions.

Publication date:

2024-10-05 16:29:35 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.