(RTTNews) – The Japanese equity market slipped lower on Wednesday, shedding some of Tuesday’s gains, as the Nikkei 225 dropped below 29,200. The decline follows negative sentiment from Wall Street overnight and cautious positioning ahead of the upcoming U.S. inflation report, which may influence interest‑rate expectations.
The Nikkei 225 fell 116.76 points (0.40%) to 29,126.06, after touching a low of 29,097.61 earlier; it had risen markedly on Tuesday.
SoftBank Group slipped 0.3%, while Fast Retailing, the parent of Uniqlo, rose nearly 1%. Honda and Toyota each fell by about 1%.
In technology, Screen Holdings advanced over 1%, Advantest rose 0.2%, and Tokyo Electron slipped nearly 2%.
In banking, Sumitomo Mitsui Financial climbed over 1%, while Mizuho Financial and Mitsubishi UFJ Financial each rose 0.1%–0.4%.
Major exporters saw declines: Sony fell about 1%, Mitsubishi Electric dropped nearly 3%, Panasonic slipped almost 2%, and Canon eased 0.2%.
Other notable declines included Mitsubishi Motors falling over 9%, NTN and Pacific Metals each dropping nearly 9%, and Taiyo Yuden slipping more than 3%, with Mitsubishi Electric also down about 3%.
On the upside, Marui Group surged nearly 16%, Yokogawa Electric rose more than 9%, Nichirei jumped over 6%, while Mitsubishi Corp. slipped about 4% and JFE Holdings and Nippon Yusen K.K. each fell nearly 3%.
In currency markets, the U.S. dollar traded in the lower 135‑yen range on Wednesday.
Wall Street remained largely lower on Tuesday, with major indices slipping after early pressure, following a mixed close on Monday.
The Nasdaq fell 77.36 points (0.6%) to 12,179.55, while the S&P 500 dropped 18.95 points (0.5%) to 4,119.17. The Dow edged lower by 56.88 points (0.2%) to 33,561.81 after a brief late‑session rally.
European markets also slipped, with France’s CAC 40 down 0.6%, the U.K.’s FTSE 100 easing 0.2%, and Germany’s DAX essentially flat.
Crude oil rebounded, finishing higher on expectations of increased seasonal demand and the U.S. government’s plan to replenish the strategic reserve. June WTI crude settled at $73.71 per barrel, up $0.55 (0.8%).
