Japan’s Nikkei index managed to recover most of its early losses and closed relatively stable on Tuesday, March 3, as investors seized the opportunity to buy into declining stocks following a dip from record highs.<\/p>\n\n\n\n
The index dipped marginally by 0.03% to 40,097.63 points, significantly paring down its losses which had reached 0.7% earlier in the trading session.<\/p>\n\n\n\n
Having enjoyed five consecutive weeks of gains, the Nikkei breached the 40,000-point milestone for the first time just the previous day, marking a remarkable 20% increase since the year began.<\/p>\n\n\n\n
Advantest, a company specializing in chip testing equipment, saw its stock drop by 2.64%, exerting notable downward pressure on the Nikkei index. However, Tokyo Electron’s stock managed to reverse its trajectory, closing 0.41% higher and contributing positively to the index’s performance.<\/p>\n\n\n\n
In the United States, all three major indices closed lower the preceding night as investors awaited key economic data and Federal Reserve Chairman Jerome Powell’s testimony before Congress.<\/p>\n\n\n\n
Meanwhile, the broader Topix index managed to trim its early losses, ending the day 0.5% higher at 2,719.93 points.<\/p>\n\n\n\n
Shares of Obayashi surged by 18% after the general contracting company raised its dividend expectations, leading to a 2.96% rise in the construction sector, which emerged as the top-performing sector among the 33 sub-sector indices on the Tokyo Stock Exchange.<\/p>\n\n\n\n
Fast Retailing, the parent company of popular clothing brand Uniqlo, saw a modest increase of 0.25% after reporting a 7.2% year-on-year sales growth in its existing stores for February.<\/p>\n\n\n\n
Of the 225 components comprising the Nikkei index, 124 stocks saw gains while 99 experienced declines, with two stocks maintaining stability.<\/p>\n","protected":false},"excerpt":{"rendered":"
Japan’s Nikkei index managed to recover most of its early losses and closed relatively stable on Tuesday, March 3, as investors seized the opportunity to buy into declining stocks following a dip from record highs. The index dipped marginally by 0.03% to 40,097.63 points, significantly paring down its losses which had reached 0.7% earlier in …<\/p>\n","protected":false},"author":9,"featured_media":71671,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6837,6885,8501,8143],"class_list":["post-97947","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-eurozone","tag-fed","tag-feds-beige-book","tag-interest-rate-hikes"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/97947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=97947"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/97947\/revisions"}],"predecessor-version":[{"id":97949,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/97947\/revisions\/97949"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71671"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=97947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=97947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=97947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}