Kenta Shinozaki

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Japan stocks lose steam as global money pulls back

Jun 29, 2024 | asia.nikkei.com | Kenta Shinozaki

TOKYO -- Japanese stocks have lost momentum after hitting a record high this year, lagging U.S. equities in the just-ended quarter as overseas investors moved to pocket their gains. The Nikkei Stock Average fell 1.9% in April to June for the first quarterly decline since July-September 2023. The S&P 500 index rose 4%, while the STOXX Europe 600 was flat.
Japan and U.S. stock rallies fueled by tech on AI boom

Mar 4, 2024 | asia.nikkei.com | Yoshikazu Imahori |Kenta Shinozaki

TOKYO -- As Japanese and U.S. shares reach new highs fueled by the tech sector, strong earnings have allayed concerns about overheating, but the concentration of money in a handful of stocks has invited comparisons to the 1990s dot-com boom. The Nikkei Stock Average broke the 40,000 mark for the first time Monday, following record highs set by the tech-heavy Nasdaq index in the U.S. last week.
Japan's once-overlooked chip sector suppliers drive Nikkei rally

Mar 1, 2024 | asia.nikkei.com | Kenta Shinozaki |Ryosuke Eguchi

TOKYO -- The Nikkei Stock Average's record-making rally approached the 40,000 milestone on Friday, buoyed by the strong performance of Japan's previously unnoticed gems in the global semiconductor industry. Chipmaking equipment manufacturer Tokyo Electron climbed 5% at one point to touch a new record high. This followed the rises by American chip companies Nvidia and AMD in the U.S. market on Thursday.
Toyota's market cap sets new Japan record, topping bubble-era NTT

Jan 23, 2024 | asia.nikkei.com | Kenta Shinozaki |Kazuhiro Noguchi |Hinako Sato

TOKYO/NAGOYA, Japan -- Toyota Motor has set a new record for market capitalization for a Japanese company, reaching 48.7 trillion yen ($328.8 billion) at the end of Tuesday's trading in Tokyo, as overseas investors flock to blue chips. Toyota closed at 2,991 yen, up 9 yen from Monday and rising for a fifth straight session. Its share price, which touched 3,034 yen at one point Tuesday, has set a new record high for several days.
Yen weakens against dollar following Powell's Jackson Hole remarks

Aug 28, 2023 | asia.nikkei.com | Toshihiro Sato |Kenta Shinozaki

TOKYO -- The fall of the Japanese yen has continued as a new trading week begins following remarks by central bank chiefs at the Kansas City Federal Reserve Bank's annual symposium on economic policy in Jackson Hole, Wyoming. Many market players expect that U.S. interest rates will remain high for now, as U.S. Federal Reserve Chair Jerome Powell hinted at additional rate hikes depending on the economic situation. The weaker yen could push up Japanese stocks.
Chinese real estate stocks rally on stimulus hopes

Jul 25, 2023 | asia.nikkei.com | Kensaku Ihara |Kenta Shinozaki

HONG KONG/TOKYO -- Shares in Chinese real estate companies surged on Tuesday, a day after a closely watched policy meeting raised hopes that support for the troubled sector was coming. Hong Kong's Hang Seng Index gained 4.1% Tuesday, marking the highest close in about a month. Chinese property groups were among the biggest winners. Longfor Group Holdings rose nearly 26% and Country Garden Holdings jumped 18%.
Upgraded earnings forecasts drive Nikkei's winning streak

Jun 14, 2023 | asia.nikkei.com | Kenta Shinozaki

TOKYO -- A succession of upgraded earnings projections from analysts is bolstering gains in Japanese stock prices, with the market ending trading Wednesday on a four-session winning streak. The Nikkei Stock Average added 1.5% to finish at 33,502 points, reaching a level not seen since March 1990.
Foreign investors' fresh interest in Japan stocks undeterred by dip

May 23, 2023 | asia.nikkei.com | Kenta Shinozaki |Kosuke Iguchi

TOKYO -- The Nikkei Stock Average's first fall in nine trading days does not appear to signal any dimming of interest from the foreign investors who have driven the recent Japanese rally, but questions remain about how long a boom driven by hopes for change will last. Tuesday's 129-point drop appears to have been driven by profit-taking, touched off by word of a government decision on technology export curbs that hit semiconductor stocks.
Buffett effect: Overseas investors buy over $7bn in Japan stocks in week

Apr 20, 2023 | asia.nikkei.com | Kenta Shinozaki

TOKYO -- Overseas investors bought a net 1.05 trillion yen ($7.83 billion) in Japanese stocks during the five trading sessions through April 14 as billionaire investor Warren Buffett signaled his confidence in the market. In an interview with Nikkei on April 11, Buffett said that his Berkshire Hathaway had increased its stake in five leading Japanese trading houses. He said he intends to add to his investments in Japan.
Steve Cohen's hedge fund Point72 to expand team in Japan

Apr 6, 2023 | asia.nikkei.com | Akira Yamashita |Kenta Shinozaki

TOKYO -- U.S. hedge fund Point72 Asset Management plans to increase its staff in Japan by around 20% this year to boost investments based on macroeconomic trends, founder and CEO Steve Cohen told Nikkei on a recent trip here. Japan "is one of the biggest developed markets in the world, with lots of innovation and great companies," Cohen said.