TOKYO, June 8 (Reuters) – The Tokyo Stock Exchange finished almost unchanged on a mark Monday, the good employment figures in the United States on Friday raising fears a rise in US interest rates as early September, which served as a pretext to take profits, particularly on export values.
The Nikkei lost 3.71 points, or 0.02%, to 20,457.19 Points . The Topix, broader, fell a little more sharply, from 5.07 point (-0.30%) to 1661.99 points.
The US labor market has created 280,000 jobs in May, at its highest since December and well above the average forecast 225,000 by economists polled by Reuters. The average hourly wage has meanwhile increased by eight cents (+ 0.3%), again more than expected.
After the data, the dollar climbed to a 13-year peak against the yen at 125.86 yen and is trading around 125.56 yen.
This weakness of the yen did not support exporting companies. “Some people might say that a weak yen is positive for Japanese stocks. But do not be too optimistic, because this could be the beginning of a sharp correction,” said Norihiro Fujito, head of strategy at Mitsubishi UFJ Morgan Stanley Securities.
The revised sharply higher gross domestic product (GDP) of Japan in the first quarter has not been a supporting factor for the rating. (Ayai Tomisawa, Benoit Van Overstraeten and Juliette Rouillon for the French service, edited by Veronique Tison)
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