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Nikkei falls 0.4% as trading houses and steelmakers lag

Nikkei falls 0.4% as trading houses and steelmakers lag


0011 GMT — Japanese stocks are falling, led by declines in trading companies and steelmakers, as concerns persist over rising energy and borrowing costs amid the Middle East conflict. Itochu Corp. is down 1.1% and JFE Holdings is 1.4% lower. Profits are at the center of concerns, with Nidec Corp. is expected to release its results later today. Investors are also closely watching any developments in the war between Hamas and Israel. USD/JPY is at 149.86, little changed from 149.85 at the Tokyo Stock Exchange’s close on Friday. The Nikkei Stock Average was down 0.4% at 31,137.81. (kosaku.narioka@wsj.com; @kosakunarioka)

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Eleon

With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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