Tankan Survey Results Weighs on Tokyo Stocks

apan’s Nikkei 225 finished 1.5% lower at 9978.64, ending below the psychologically-crucial 10000-point level for the first time since late July. While the yen’s recent strength hurt exporters, the broad market was pressured by the outcome of the tankan survey.

Although the survey showed sentiment among Japan’s large manufacturers was improving, their capital expenditure plans for this fiscal year were weaker than the previous survey, which was a slight negative for the stock market, said Yumi Nishimura, market analyst at Daiwa Securities SMBC.

“We knew that companies would not increase capital spending any time soon, but the results suggest that poor spending may drag on,” she said.

Wall Street Journal

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.