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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