Market Commentary - Foreign Markets
Japanese Stocks End Flat As on : 05-Jul-24  16:18

Japanese shares ended on a flat note after a choppy session. The Nikkei average finished marginally lower at 40,912.37 after hitting another record high earlier in the day on the back of a weaker yen and expectations for earnings growth.

The broader Topix index also briefly hit record levels before reversing course to end 0.49 percent lower at 2,884.18.

Data showed today that Japanese household spending unexpectedly fell in May as higher prices continued to squeeze consumers' purchasing power. Household spending declined 1.8 percent on a yearly basis, confounding expectations for an increase of 0.2 percent.

Japan's leading index improved somewhat in May after falling to a three-month low in April, preliminary data from the Cabinet Office showed on Friday. The leading index, which measures future economic activity, rose to 111.1 in May from 110.9 in the previous month.

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