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Nikkei drops to 1-week low on profit-taking but automakers, financials rise
Japan's Nikkei dropped to a one-week low on Thursday as investors took profits after a recent rally lifted the index to a 27-year high, but Toyota and SoftBank rose after they announced a partnership on auto driving technology. "Asian shares were overall weak on the back of a strong dollar and rising U.S. yields, but the Japanese market's downside was somewhat supported by the weaker yen," said Masashi Oda, general manager at Sumitomo Mitsui Trust Asset Management. Oda said that the weak yen should raise prospects for Japan Inc to post stronger-than-expected earnings, but given the recent rally, it was natural to see profit-taking.
https://finance.yahoo.com/news/nikkei-drops-1-week-low-072549894.html?.tsrc=rss
Japan's Nikkei dropped to a one-week low on Thursday as investors took profits after a recent rally lifted the index to a 27-year high, but Toyota and SoftBank rose after they announced a partnership on auto driving technology. "Asian shares were overall weak on the back of a strong dollar and rising U.S. yields, but the Japanese market's downside was somewhat supported by the weaker yen," said Masashi Oda, general manager at Sumitomo Mitsui Trust Asset Management. Oda said that the weak yen should raise prospects for Japan Inc to post stronger-than-expected earnings, but given the recent rally, it was natural to see profit-taking.
https://finance.yahoo.com/news/nikkei-drops-1-week-low-072549894.html?.tsrc=rss
