Market Updates
Japan Indexes Halt 3-Day Slide, Services Growth Revised Lower In May
Akira Ito
04 Jun, 2025
Tokyo
Stocks in Tokyo halted a three-day slide following a rise in overnight trading in New York.
Investor optimism was fueled by a tech stock rally in New York in overnight trading and cautious optimism expressed by the Bank of Japan Governor.
Governor Kazuo Ueda reiterated the central bank's commitment to raise rates if economic data support the move and inflation targets are reached.
Ueda said Japan's economy is in moderate recovery, driven by strong corporate earnings and business sentiment, despite some persistent weakness.
The Japanese yen traded at 144.13 against the U.S. dollar as investors debated the Bank of Japan's next move.
The au Jibun Bank Japan Services PMI was revised higher to 51.0 in May from the preliminary estimate of 50.8 but still lower than 52.4 in April.
The service sector expanded for the second consecutive month, but the pace of expansion slowed amid U.S. tariff uncertainty.
Business outlook improved to a three-month high from the four-year low in April amid hopes of improving demand conditions.
Japan Indexes and Stocks
The Nikkei 225 Stock Average gained 1% to 37,806.68, and the broader Topix index increased 0.7% to 2,789.52.
Semiconductor equipment makers led gainers in Tokyo trading.
Tokyo Electron increased 0.5% to ¥22,515.0, Advantest Corp gained 2.2% to ¥7,433.0, and Disco Corp. added 1% to ¥32,640.0.
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