Market Update
Japan's Producer Price Inflation Held Stable, Yen Weakened to 8-Month Low
Akira Ito
10 Oct, 2025
Tokyo
Japan's market indexes pulled back on Friday, and investors questioned the duration of the market rally since the April slump.
The Nikkei 225 Stock Average decreased 1.2%, the broader Topix plunged 2%, and the yen eased to 152.80 against the dollar.
Benchmark indexes closed down on Friday after a measure of wholesale price inflation rose in September, supporting the Bank of Japan's campaign to raise rates sooner rather than later.
For the week, the Nikkei 225 Stock Average jumped more than 4%, and the Topix advanced more than 3% after the LDP's leadership results.
The Japanese yen dropped to a multi-month low amid expectations of additional fiscal policy support from the new administration.
The recently elected LDP's leader, and presumed prime minister, Sanae Takaichi is likely to support additional fiscal spending and pressure the Bank of Japan to continue its ultra-loose monetary policy.
However, Takaichi may face hurdles in winning durable support from its junior partner, Komeito, as the LDP leader's comments rattled the party's core voter base.
Takaichi's pressure on the Bank of Japan to maintain its ultra-loose policy may face resistance from policymakers amid rising prices and uncertain exports.
Japan's producer price index in September held at 2.6%, matching August's rate, the Bank of Japan reported Friday.
The cost for intermediate products continued to rise, and the measure of wholesale inflation advanced 0.3%, reversing the 0.2% decline in August.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 1.2% to 47,980.62, and the broader Topix dropped 2% to 3,193.32.
Semiconductor equipment makers turned lower in Tokyo, reflecting a decline in tech stocks in overnight trading in New York.
Tokyo Electron decreased 1.4% to ¥29,295.0, Advantest Corp. fell 0.8% to ¥17,860.0, and Disco Corp. declined 0.7% to ¥53,380.0.
Japan's Producer Price Inflation Held Stable, Yen Weakened to 8-Month Low
Akira Ito
10 Oct, 2025
Tokyo
Japan's market indexes pulled back on Friday, and investors questioned the duration of the market rally since the April slump.
The Nikkei 225 Stock Average decreased 1.2%, the broader Topix plunged 2%, and the yen eased to 152.80 against the dollar.
Benchmark indexes closed down on Friday after a measure of wholesale price inflation rose in September, supporting the Bank of Japan's campaign to raise rates sooner rather than later.
For the week, the Nikkei 225 Stock Average jumped more than 4%, and the Topix advanced more than 3% after the LDP's leadership results.
The Japanese yen dropped to a multi-month low amid expectations of additional fiscal policy support from the new administration.
The recently elected LDP's leader, and presumed prime minister, Sanei Takaichi is likely to support additional fiscal spending and pressure the Bank of Japan to continue its ultra-loose monetary policy.
However, Takaichi may face hurdles in winning durable support from its junior partner, Komeito, as the LDP leader's comments rattled the party's core voter base.
Takaichi's pressure on the Bank of Japan to maintain its ultra-loose policy may face resistance from policymakers amid rising prices and uncertain exports.
Japan's producer price index in September held at 2.6%, matching August's rate, the Bank of Japan reported Friday.
The cost for intermediate products continued to rise, and the measure of wholesale inflation advanced 0.3%, reversing the 0.2% decline in August.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 1.2% to 47,980.62, and the broader Topix dropped 2% to 3,193.32.
Semiconductor equipment makers turned lower in Tokyo, reflecting a decline in tech stocks in overnight trading in New York.
Tokyo Electron decreased 1.4% to ¥29,295.0, Advantest Corp. fell 0.8% to ¥17,860.0, and Disco Corp. declined 0.7% to ¥53,380.0.
China indexes Dropped 1%, Three New Issues Soared In HK and Beijing
Li Chen
10 Oct, 2025
Hong Kong
Stocks in China and Hong Kong traded down amid a growing list of worries, including unresolved trade tensions and stretched tech valuations.
The Hang Seng Index decreased 1.1%, and the mainland-focused CSI 300 index declined 1.3% as investors shifted focus on the start of the earnings season.
China's market decline reflected the weakness in tech stocks in overnight trading in New York.
Investors remained cautiously optimistic about stocks in China amid hopes that policymakers could announce additional fiscal stimulus measures in early November.
The weaker-than-expected increase during a weeklong Golden Week holiday in retail and catering sales kept market enthusiasm in check.
Persistent weakness in the residential market, elevated youth jobless rates, and consumer confidence are providing additional headwinds to the stock market rally in China and Hong Kong.
China Indexes and Stocks
The Hang Seng Index decreased 1.1% to 26,442.67, and the mainland-focused CSI 300 index dropped 1.3% to 4,650.58.
For the week, the Hang Seng index decreased nearly 3%, but the CSI 300 index advanced 1.6%.
Golden Leaf International Group soared more than 470% to HK $2.83, and the building services engineering company completed its public offering.
The company sold 100 million shares, priced at 50 HK cents each, and raised net proceeds of HK$ 31.30 million.
Shanghai Zhida Technology Development jumped 180% to HK $189.40, and the company completed its public offering in Hong Kong.
The company that makes home EV chargers sold 5.79 million shares priced at HK $66.92 each, and it raised net proceeds of HK $326.6 million.
OMS Machinery surged 330% to 36.05 yuan in Beijing, and the maker of air conditioning and heat exchanger machinery priced its offering at 10.70 yuan per share.
China indexes Dropped 1%, Three New Issues Soared In HK and Beijing
Li Chen
10 Oct, 2025
Hong Kong
Stocks in China and Hong Kong traded down amid a growing list of worries, including unresolved trade tensions and stretched tech valuations.
The Hang Seng Index decreased 1.1%, and the mainland-focused CSI 300 index declined 1.3% as investors shifted focus on the start of the earnings season.
China's market decline reflected the weakness in tech stocks in overnight trading in New York.
Investors remained cautiously optimistic about stocks in China amid hopes that policymakers could announce additional fiscal stimulus measures in early November.
The weaker-than-expected increase during a weeklong Golden Week holiday in retail and catering sales kept market enthusiasm in check.
Persistent weakness in the residential market, elevated youth jobless rates, and consumer confidence are providing additional headwinds to the stock market rally in China and Hong Kong.
China Indexes and Stocks
The Hang Seng Index decreased 1.1% to 26,442.67, and the mainland-focused CSI 300 index dropped 1.3% to 4,650.58.
For the week, the Hang Seng index decreased nearly 3%, but the CSI 300 index advanced 1.6%.
Golden Leaf International Group soared more than 470% to HK $2.83, and the building services engineering company completed its public offering.
The company sold 100 million shares, priced at 50 HK cents each, and raised net proceeds of HK$ 31.30 million.
Shanghai Zhida Technology Development jumped 180% to HK $189.40, and the company completed its public offering in Hong Kong.
The company that makes home EV chargers sold 5.79 million shares priced at HK $66.92 each, and it raised net proceeds of HK $326.6 million.
OMS Machinery surged 330% to 36.05 yuan in Beijing, and the maker of air conditioning and heat exchanger machinery priced its offering at 10.70 yuan per share.
S&P 500 Sets Fresh Intraday Record, Government Shutdown Enters Day 9
Barry Adams
09 Oct, 2025
New York City
Benchmark indexes on Wall Street scaled fresh records on Thursday, and investors prepared for a flood of earnings next week.
The S&P 500 index decreased 0.2%, and the tech-heavy Nasdaq Composite edged down 0.1%, but they created new intraday record highs at the opening.
There is no official economic data scheduled to release on Thursday due to the ongoing government shutdown.
The U.S. Senate failed to pass a short-term budget for the sixth time after Democrats voted against the spending plan and held out for a revision in the healthcare premium subsidy for the low-income individuals.
Gold hovered near a record high as individual investors and central banks continued to increase exposure to the precious metals and lighten their holdings of the U.S. Treasury notes.
U.S. and global investors are increasingly avoiding U.S. dollar-denominated assets as the dollar's status as a reserve currency faces closer scrutiny amid elevated U.S. debt levels, the Trump administration's attacks on the Fed's independence, and prolonged government shutdowns.
U.S. Stock Movers
Bassett Furniture Industries decreased 1.8% to $16.50 despite the company reporting improved sales and net income swinging to a profit.
Revenue in the third quarter rose to $80.1 million from $75.6 million, and net income per share increased to a profit of 9 cents, compared to a loss of 52 cents a year ago.
PepsiCo increased 0.7% to $139.80 after the beverage and snack company reported better-than-expected results in the third quarter.
Net revenue increased 2.6% to $23.9 billion from $23.3 billion, net income attributable to shareholders eased to $2.6 billion from $2.9 billion, and diluted earnings per share decreased to $1.90 from $2.13 a year ago.
“Our reported net revenue growth accelerated and reflects the resilience of our international business, improved momentum within North America Beverages, and the benefits of our portfolio reshaping actions,” said Chairman and CEO Ramon Laguarta.
The company guided 2025 organic revenue to increase in "low single digits" and core constant currency earnings per share to match the prior year's level.
Delta Air Lines increased 5.9% to $60.50, and the international carrier's third-quarter results surpassed market expectations, and it issued a strong outlook.
Total operating revenue in the third quarter increased by 6%, reaching $16.7 billion, up from $15.7 billion; net income rose by 11% to $1.41 billion, compared to $1.27 billion; and diluted earnings per share increased to $2.17 from $1.97 a year ago.
The airline guided fourth-quarter revenue to rise between 2% and 4% from a year ago and adjusted earnings per share between $1.60 and $1.90.
Costco Wholesale Corp. advanced 1.4% to $928.10 after the membership warehouse club operator reported monthly sales data.
Sales in the five-week period ended October 5 rose 8% to $26.58 billion, and the U.S. same-store sales advanced 5.1% in the period.
S&P 500 Sets Fresh Intraday Record, Government Shutdown Enters Day 9
Barry Adams
09 Oct, 2025
New York City
Benchmark indexes on Wall Street scaled fresh records on Thursday, and investors prepared for a flood of earnings next week.
The S&P 500 index decreased 0.2%, and the tech-heavy Nasdaq Composite edged down 0.1%, but they created new intraday record highs at the opening.
There is no official economic data scheduled to release on Thursday due to the ongoing government shutdown.
The U.S. Senate failed to pass a short-term budget for the sixth time after Democrats voted against the spending plan and held out for a revision in the healthcare premium subsidy for the low-income individuals.
Gold hovered near a record high as individual investors and central banks continued to increase exposure to the precious metals and lighten their holdings of the U.S. Treasury notes.
U.S. and global investors are increasingly avoiding U.S. dollar-denominated assets as the dollar's status as a reserve currency faces closer scrutiny amid elevated U.S. debt levels, the Trump administration's attacks on the Fed's independence, and prolonged government shutdowns.
U.S. Stock Movers
Bassett Furniture Industries decreased 1.8% to $16.50 despite the company reporting improved sales and net income swinging to a profit.
Revenue in the third quarter rose to $80.1 million from $75.6 million, and net income per share increased to a profit of 9 cents, compared to a loss of 52 cents a year ago.
PepsiCo increased 0.7% to $139.80 after the beverage and snack company reported better-than-expected results in the third quarter.
Net revenue increased 2.6% to $23.9 billion from $23.3 billion, net income attributable to shareholders eased to $2.6 billion from $2.9 billion, and diluted earnings per share decreased to $1.90 from $2.13 a year ago.
“Our reported net revenue growth accelerated and reflects the resilience of our international business, improved momentum within North America Beverages, and the benefits of our portfolio reshaping actions,” said Chairman and CEO Ramon Laguarta.
The company guided 2025 organic revenue to increase in "low single digits" and core constant currency earnings per share to match the prior year's level.
Delta Air Lines increased 5.9% to $60.50, and the international carrier's third-quarter results surpassed market expectations, and it issued a strong outlook.
Total operating revenue in the third quarter increased by 6%, reaching $16.7 billion, up from $15.7 billion; net income rose by 11% to $1.41 billion, compared to $1.27 billion; and diluted earnings per share increased to $2.17 from $1.97 a year ago.
The airline guided fourth-quarter revenue to rise between 2% and 4% from a year ago and adjusted earnings per share between $1.60 and $1.90.
Costco Wholesale Corp. advanced 1.4% to $928.10 after the membership warehouse club operator reported monthly sales data.
Sales in the five-week period ended October 5 rose 8% to $26.58 billion, and the U.S. same-store sales advanced 5.1% in the period.
Japan's Indexes Scaled New Record Highs, SoftBank to Buy ABB's Robotics Division
Akira Ito
09 Oct, 2025
Tokyo
Benchmark indexes in Japan continued their upward climb, driven by another leg up in AI-related stocks.
The Nikkei 225 Stock Average jumped 1.5%, and the broader Topix increased 0.4% amid optimism surrounding the presumed prime minister Sanei Takaichi's fiscal stimulus.
Artificial intelligence-related stocks extended this year's gains after SoftBank Group announced a deal to acquire the robotics division of the Swiss engineering firm ABB for $5.4 billion.
In addition, the Softbank-financed and UK-based Graphcore plans to invest $1.3 billion in India.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 1.5% to 48,449.88, and the broader Topix added 0.4% to 3,249.96.
Semiconductor equipment makers led market gainers on Thursday, after a flurry of AI deals.
Tokyo Electron gained 1.7% to ¥29,750.0, Advantest Corp. increased 0.6% to ¥18,095.0, and Disco Corp. advanced 2.7% to ¥53,550.0.
SoftBank Group soared 11.5% to ¥22,965.0.
Japan's Indexes Scaled New Record Highs, SoftBank to Buy ABB's Robotics
Akira Ito
09 Oct, 2025
Tokyo
Benchmark indexes in Japan continued their upward climb, driven by another leg up in AI-related stocks.
The Nikkei 225 Stock Average jumped 1.5%, and the broader Topix increased 0.4% amid optimism surrounding the presumed prime minister Sanei Takaichi's fiscal stimulus.
Artificial intelligence-related stocks extended this year's gains after SoftBank Group announced a deal to acquire the robotics division of the Swiss engineering firm ABB for $5.4 billion.
In addition, the Softbank-financed and UK-based Graphcore plans to invest $1.3 billion in India.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 1.5% to 48,449.88, and the broader Topix added 0.4% to 3,249.96.
Semiconductor equipment makers led market gainers on Thursday, after a flurry of AI deals.
Tokyo Electron gained 1.7% to ¥29,750.0, Advantest Corp. increased 0.6% to ¥18,095.0, and Disco Corp. advanced 2.7% to ¥53,550.0.
SoftBank Group soared 11.5% to ¥22,965.0.
China's Golden Week Holiday Sales Disappointed Investors, HSBC Proposed to Privatize Hang Seng Bank
Li Chen
09 Oct, 2025
Hong Kong
Benchmark indexes in Hong Kong and mainland China faced headwinds amid tepid retail sales data for the Golden Week holiday period.
The Hang Seng Index and the CSI 300 Index inched higher after investors returned from a weeklong holiday in mainland China.
Investor sentiment remained cautious after the Commerce Ministry said retail and food and beverage sales in the first four days of the Golden Week holiday rose 3.3%.
That increase was slower than 6.3% during the Labor Day holiday in May and lower than the 3.4% increase in retail sales in September.
The weak increase in retail and food and beverage sales confirmed that consumption is not likely to provide support for the economic growth in the second half.
China Indexes and Stocks
The Hang Seng Index edged up 0.03% to 26,819.01, and the mainland-focused CSI 300 index inched higher 0.04% to 4,715.47.
Hang Seng Bank Ltd. soared 26% to HK $150.30 after HSBC proposed to take the company private for HK $155 per share.
HSBC Holding plc declined 6.3% to HK $103.0.
Trip.com Group Ltd. rose 1.6% to HK $560.0 after the National Day and Mid-Autumn Festival tourism market witnessed an increase in volume and prices.
Chinese tourists preferred Japan, Thailand, Malaysia, and Singapore for international travel, and Beijing, Shanghai, Chengdu, and Xian remained popular for domestic travel.
China's Golden Week Holiday Sales Disappointed Investors, HSBC Proposed to Privatize Hang Seng Bank
Li Chen
09 Oct, 2025
Hong Kong
Benchmark indexes in Hong Kong and mainland China faced headwinds amid tepid retail sales data for the Golden Week holiday period.
The Hang Seng Index and the CSI 300 Index inched higher after investors returned from a weeklong holiday in mainland China.
Investor sentiment remained cautious after the Commerce Ministry said retail and food and beverage sales in the first four days of the Golden Week holiday rose 3.3%.
That increase was slower than 6.3% during the Labor Day holiday in May and lower than the 3.4% increase in retail sales in September.
The weak increase in retail and food and beverage sales confirmed that consumption is not likely to provide support for the economic growth in the second half.
China Indexes and Stocks
The Hang Seng Index edged up 0.03% to 26,819.01, and the mainland-focused CSI 300 index inched higher 0.04% to 4,715.47.
Hang Seng Bank Ltd. soared 26% to HK $150.30 after HSBC proposed to take the company private for HK $155 per share.
HSBC Holding plc declined 6.3% to HK $103.0.
Trip.com Group Ltd. rose 1.6% to HK $560.0 after the National Day and Mid-Autumn Festival tourism market witnessed an increase in volume and prices.
Chinese tourists preferred Japan, Thailand, Malaysia, and Singapore for international travel, and Beijing, Shanghai, Chengdu, and Xian remained popular for domestic travel.
Gold Surged to Record High as Shutdown Entered Second Week
Barry Adams
08 Oct, 2025
New York City
Stocks in New York attempted to rebound after a week of lackluster trading amid growing worries about the stretched valuation of tech stocks.
The S&P 500 index inched up 0.1%, the tech-heavy Nasdaq Composite edged up 0.3%, and the yield on 10-year U.S. Treasury notes edged lower to 4.103%.
Gold surged 1.3% to $4,031 an ounce, and the price of the yellow metal crossed $4,000 for the first time as investors sought a safe haven asset.
Investor anxieties are high amid mounting concerns about the U.S. federal government shutdown, broader economic uncertainty, and the Trump administration's unpredictable trade policy.
Increasingly investors are preferring gold as a reserve asset over the U.S. dollar denominated-assets, including the U.S. Treasury bonds.
Moreover, consumers are worried about the resurgent food price inflation, and the Trump administration's heavy-handed approach in handling farm labor is pushing thousands of farmers on the brink of collapse.
The U.S. president offered his support for bailing out wheat, soybean, and corn farmers who export most of their crops to China; however, the world's second-largest economy has stopped purchasing U.S. agricultural goods in retaliation to Trump's goods tariffs.
The U.S. government has subsidized farmers in the past, which in effect ends up supporting farmers who put food on the table of Chinese customers.
U.S. Stock Movers
Joby Aviation dropped 10.6% to $16.89, and the aviation company priced its secondary offering at a discount.
The vertical landing and takeoff company sold 30.5 million shares at $16.85 per share. The latest secondary offering raised around $514 million.
Fair Isaac Corp. decreased 3.7% to $1,810.0, and the company trimmed the previous session's 20% surge after the credit score company announced a new pricing structure.
The credit score company announced its plans to license its FICO scores to mortgage resellers, bypassing credit reporting bureaus, who can provide direct access to loan seekers.
Equifax edged up 2.3% to $244.0 and rebounded from a 10% drop in the previous week.
Gold Surged to Record High as Shutdown Entered Second Week
Barry Adams
08 Oct, 2025
New York City
Stocks in New York attempted to rebound after a week of lackluster trading amid growing worries about the stretched valuation of tech stocks.
The S&P 500 index inched up 0.1%, the tech-heavy Nasdaq Composite edged up 0.3%, and the yield on 10-year U.S. Treasury notes edged lower to 4.103%.
Gold surged 1.3% to $4,031 an ounce, and the price of the yellow metal crossed $4,000 for the first time as investors sought a safe haven asset.
Investor anxieties are high amid mounting concerns about the U.S. federal government shutdown, broader economic uncertainty, and the Trump administration's unpredictable trade policy.
Moreover, consumers are worried about the resurgent food price inflation, and the Trump administration's heavy-handed approach in handling farm labor is pushing thousands of farmers on the brink of collapse.
The U.S. president offered his support for bailing out wheat, soybean, and corn farmers who export most of their crops to China; however, the world's second-largest economy has stopped purchasing U.S. agricultural goods in retaliation to Trump's goods tariffs.
The U.S. government has subsidized farmers in the past, which in effect ends up supporting farmers who put food on the table of Chinese customers.
U.S. Stock Movers
Joby Aviation dropped 10.6% to $16.89, and the aviation company priced its secondary offering at a discount.
The vertical landing and takeoff company sold 30.5 million shares at $16.85 per share. The latest secondary offering raised around $514 million.
Fair Isaac Corp. decreased 3.7% to $1,810.0, and the company trimmed the previous session's 20% surge after the credit score company announced a new pricing structure.
The credit score company announced its plans to license its FICO scores to mortgage resellers, bypassing credit reporting bureaus, who can provide direct access to loan seekers.
Equifax edged up 2.3% to $244.0 and rebounded from a 10% drop in the previous week.
India WED
08 Oct, 2025
Select
Stock market indexes in Mumbai eased, and investors awaited the start of earnings season.
The Sensex index decreased 0.2%, the Nifty 50 index dropped 0.3%, and the rupee held at a record low of 88.77 against the U.S. dollar.
Gold prices touched a new record high in New York, London, and Mumbai amid worries of elevated geopolitical tensions and the U.S. debt level.
In Mumbai, the price of 24-carat gold touched ₹12,317 per gram, and the silver price advanced to ₹157 per gram.
Precious metal prices are likely to continue to scale new record highs as central banks in Asia, the Middle East, and the European Union replace their U.S. Treasury holdings with gold.
India Indexes and Stocks
The Sensex decreased 0.2% to 81,747.85, and the Nifty dropped 0.3% to 25,038.30.
KPIT decreased 1% to ₹1,158.50, and the information services company increased its stake in N-Dream by an additional 62.9%.
Tata Motors Ltd. dropped 1.1% to ₹690.40, and the company's JLR division's sales decreased 24.2% from a year ago in the September quarter.
Container Corporation of India decreased 0.2% to ₹531.60, and the company signed a strategic agreement with Ultra Cement to improve cement transport through the rail network.
Titan Company rose 4.1% to ₹3,560.10, and the specialty retailer reported an 18% increase in sales in the fiscal second quarter.
Japan's Real Wage Growth Retains Downward Trend In August
Akira Ito
08 Oct, 2025
Tokyo
Japan's indexes lacked direction, and investors reviewed the latest wage data and business confidence index.
The Nikkei 225 Stock Average decreased 0.2%, and the Topix advanced 0.4%.
Japan's real wages in August decreased for the eighth consecutive month, as inflation outpaced wage growth.
Japan's nominal wage increase slowed to an annual 1.5% in August from 3.4% in the previous month, the Ministry of Health, Labour and Welfare said.
The nominal wages, which include base and overtime pay, increased annually by 1.5% to 300,517 yen, or $2,000, and rose for the 44th consecutive month.
After adjusting for consumer price inflation of 3.1%, real wages declined 1.4%, and the ministry said the future trend in real wages is likely to be driven by inflation's trajectory.
Business Confidence Declined in October
The Reuters Tankan index for Japanese manufacturers declined to +8 in October from a three-year high of +13 in September, highlighting the first fall in four months as firms tackled U.S. tariffs and rising operating costs.
The index measuring confidence is likely to continue to ease and drop to +4 in January.
Of the nine manufacturing sectors surveyed, five reported a decrease in confidence.
The auto and transport machinery sector indicated the sharpest decrease, with the sector's index dropping to +9 from +33.
The vehicle and transportation industry, which accounts for one-third of the U.S. exports and employs about 8% of the workforce in Japan, dominates Japan's exports.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.2% to 47,834.65, and the Topix rose 0.4% to 3,241.81.
The Japanese yen weakened to 152, and extended this week's decrease to 3% after Sanei Takaichi was elected as the LDP's leader.
Tokyo Electron decreased 2.9% to ¥29,225.0, Advantest Corp. declined 0.3% to ¥17,960.0, and Disco Corp. eased 1.7% to ¥52,310.0.
Seven & I Holdings Co. Ltd rose 0.4% to ¥1,975.50, Fast Retailing rose 0.01% to ¥47,100.0, and Aeon Holding advanced 1.1% to ¥1,826.0.
Japan's Real Wage Growth Retains Downward Trend In August
Akira Ito
08 Oct, 2025
Tokyo
Japan's indexes lacked direction, and investors reviewed the latest wage data and business confidence index.
The Nikkei 225 Stock Average decreased 0.2%, and the Topix advanced 0.4%.
Japan's real wages in August decreased for the eighth consecutive month, as inflation outpaced wage growth.
Japan's nominal wage increase slowed to an annual 1.5% in August from 3.4% in the previous month, the Ministry of Health, Labour and Welfare said.
The nominal wages, which include base and overtime pay, increased annually by 1.5% to 300,517 yen, or $2,000, and rose for the 44th consecutive month.
After adjusting for consumer price inflation of 3.1%, real wages declined 1.4%, and the ministry said the future trend in real wages is likely to be driven by inflation's trajectory.
Business Confidence Declined in October
The Reuters Tankan index for Japanese manufacturers declined to +8 in October from a three-year high of +13 in September, highlighting the first fall in four months as firms tackled U.S. tariffs and rising operating costs.
The index measuring confidence is likely to continue to ease and drop to +4 in January.
Of the nine manufacturing sectors surveyed, five reported a decrease in confidence.
The auto and transport machinery sector indicated the sharpest decrease, with the sector's index dropping to +9 from +33.
The vehicle and transportation industry, which accounts for one-third of the U.S. exports and employs about 8% of the workforce in Japan, dominates Japan's exports.
Japan Indexes and Stocks
The Nikkei 225 Stock Average decreased 0.2% to 47,834.65, and the Topix rose 0.4% to 3,241.81.
Tokyo Electron decreased 2.9% to ¥29,225.0, Advantest Corp. declined 0.3% to ¥17,960.0, and Disco Corp. eased 1.7% to ¥52,310.0.
Seven & I Holdings Co. Ltd rose 0.4% to ¥1,975.50, Fast Retailing rose 0.01% to ¥47,100.0, and Aeon Holding advanced 1.1% to ¥1,826.0.