Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors 

Japanese stocks pare early gains ahead of Fed meeting

09/19/2022 | 10:56pm EST

Sept 20 (Reuters) - Japanese stocks marked slight gains in back-and-forth trading on Tuesday as investors braced for this week's long-awaited U.S. Federal Reserve meeting, where the central bank is expected to announce another big rate hike to tackle inflation.

As markets resumed trading after a national holiday, the Nikkei share index opened 0.8% higher and rose as much as 1.23% before paring gains to finish up 0.42% at the break.

The broader Topix index added 0.43%.

Markets are fully pricing in a Fed rate hike of at least 75 basis points, with an 18% chance seen of a full percentage point rise.

"It would be a negative surprise for the market if a 100 bps rate hike was decided, and the Nikkei share average would likely test lower levels," said a domestic asset manager.

The Nikkei saw 155 of its 225 constituents mark gains, while 67 fell and three traded flat.

The index's climb was largely driven by technology stocks, in line with overnight results from the Nasdaq 100 and the Philadelphia semiconductor index.

Chipmaking equipment manufacturer Tokyo Electron Ltd rose 1.27% and tech conglomerate SoftBank Group Corp added 1.28%. Both are major contributors to the Nikkei.

Other strong tech performers included TDK Corp, Kyocera Corp and KDDI Corp.

Pacific Metals Co Ltd saw the biggest individual rise on the Nikkei, up 5.57%. Konami Group Corp notched the largest loss, falling 4.76%.

Healthcare was one of the few sectors to drop overall, tracking overnight losses on Wall Street. Kyowa Kirin Co Ltd lost 2.62%, M3 Inc dropped 2.37% and Terumo Corp fell 1.55%.

The real estate sector also weakened. Mitsui Fudosan Co Ltd dropped 2.10% and Tokyo Tatemono Co Ltd fell 1.93%. (Reporting by Sam Byford and Tokyo markets team; Editing by Devika Syamnath)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.24% 0.68115 Delayed Quote.-7.95%
BRITISH POUND / US DOLLAR (GBP/USD) 1.52% 1.22565 Delayed Quote.-11.71%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.07% 0.74484 Delayed Quote.-6.96%
EURO / US DOLLAR (EUR/USD) 0.79% 1.05037 Delayed Quote.-9.20%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.23% 0.01232 Delayed Quote.-8.77%
KDDI CORPORATION -0.71% 4082 Delayed Quote.22.28%
KONAMI GROUP CORPORATION -0.47% 6420 Delayed Quote.16.85%
KYOCERA CORPORATION 0.34% 7005 Delayed Quote.-2.87%
KYOWA KIRIN CO. LTD. 1.10% 3210 Delayed Quote.1.28%
M3, INC. -0.31% 4192 Delayed Quote.-27.41%
MITSUI FUDOSAN CO., LTD. -2.83% 2698 Delayed Quote.21.86%
NASDAQ 100 -0.43% 11975.85 Real-time Quote.-26.29%
NASDAQ COMPOSITE -0.31% 11430.04 Real-time Quote.-26.70%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.91% 0.63705 Delayed Quote.-9.37%
NIKKEI 225 0.92% 28226.08 Real-time Quote.-2.86%
PACIFIC METALS CO LTD., 0.20% 2054 Delayed Quote.-3.80%
SOFTBANK GROUP CORP. 1.60% 6047 Delayed Quote.9.53%
TDK CORPORATION 2.66% 5010 Delayed Quote.8.69%
TERUMO CORPORATION 1.14% 4089 Delayed Quote.-16.81%
TOKYO ELECTRON LTD. 4.01% 46900 Delayed Quote.-31.97%
TOKYO TATEMONO CO., LTD. -0.78% 1906 Delayed Quote.14.35%
TOPIX INDEX 0.04% 1986.46 Delayed Quote.-0.34%
Latest news "Economy"
12:00pREUTERS NEXT: Treasury's Adeyemo says China continues to struggle with zero-COVID policy
RE
12:00pNatWest offers staff pay rise, lump sum in face of inflation
RE
12:00pU.S. diesel use slows as manufacturing, freight falter: Kemp
RE
11:59aREUTERS NEXT-U.S. Treasury's Adeyemo says $60 oil price cap will limit Russia's revenues
RE
11:59aFrance may be at risk of 'some days' of power cuts this winter - grid operator
RE
11:57aSomalia says around 40 al Shabaab fighters killed in clashes
RE
11:57aUkrenergo grid operator receives 300 million euro EBRD loan, 72 million euro grant from Netherlands
RE
11:57aApartheid-era killer's expected parole stirs old anger in South Africa
RE
11:57aEgypt to build 21 desalination plants in phase 1 of scheme -sovereign fund
RE
11:56aWall Street retreats after Powell rally with dollar falling
RE
Latest news "Economy"