The Nikkei 225 shed 258 points or 0.9% to 27,712 in early deals on Wednesday, falling for the first time in three sessions and tracking US stocks that eased overnight from record highs following another rout in Asia due to Beijing's regulatory crackdowns in the education, technology and property sectors. Traders moved away from riskier assets after reports that the IMF Tuesday cut this year's economic growth forecast for Japan to 2.8% from an earlier estimate of 3.3%, as the country continues to struggle to contain the spread of the COVID-19. Japan was the only country among the G7 nations that faced a downgrade in the economic outlook. In business news, Toyota Motor Corp reportedly will suspend another three assembly lines in Japan for several days in August due to supply chain disruptions in Vietnam. Investors now await the Fed's policy statement at the close of its two-day meeting later in the day. Sumco Corp slipped almost 5%, while SoftBank Group Corp lost nearly 3.5%.
Historically, the Japan Stock Market Index (JP225) reached an all time high of 38957.44 in December of 1989. Japan Stock Market Index (JP225) - data, forecasts, historical chart - was last updated on July of 2021.
The Japan Stock Market Index (JP225) is expected to trade at 26728.66 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 24468.70 in 12 months time.