Market Commentary - Foreign Markets
Japan Markets Rise Slightly After Exports Data As on : 20-Jun-24  17:54

Japanese shares ended slightly higher, led by chip-related stocks, with Advantest surging 3.7 percent. The Nikkei 225 Index reversed early losses to finish 0.2 percent higher at 38,633.02, while the broader Topix Index settled 0.1 percent lower at 2,725.54.

The yen fluctuated following a five-session drop as data showed Japanese exports rose for a sixth straight month in May.

Underpinned by weaker yen, Japan's exports grew at the fastest pace since 2022 in May despite the fall in sales volume, official data revealed on Wednesday.

Exports advanced 13.5 percent on a yearly basis after rising 8.3 percent in April, the Ministry of Finance said. At the same time, growth in imports rose to 9.5 percent from 8.3 percent in April.

As a result, the trade balance showed a shortfall of JPY 1.22 trillion compared to the expected level of JPY 1.3 trillion.

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