Market Commentary - Foreign Markets
Nikkei Ends Lower By 1.83% As on : 17-Jun-24  17:26

Japanese markets led regional losses as the Bank of Japan's delay in normalization of policy raised concerns about the economic outlook.

There was also some disappointment on the data front after core machinery orders fell in April for the first time in three months.

The value of core machinery orders in Japan was down a seasonally adjusted 2.9 percent on month in April, the Cabinet Office said on Monday - coming in at 886.3 billion yen.

On a yearly basis, core machinery orders rose 0.7 percent after gaining 2.7 percent in the previous month.

The Nikkei average slumped 1.83 percent to 38,102.44 while the broader Topix index settled 1.70 percent lower at 2,700.01.

Toyota Motor shed 2.7 percent amid continued fallout from a testing scandal while Honda Motor, Nissan, Suzuki and Mazda lost 3-4 percent. Chip-related shares also underperformed, with Tokyo Electron and Advantest falling 3-4 percent.

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