The Nikkei 225 Index dropped 1.73% to close at 25,936 while the broader Topix Index lost 1.38% to 1,845 on Friday, extending losses in the previous session, as a slew of disappointing economic data in Japan weighed on market sentiment. The headline index for large manufacturers’ sentiment in Japan declined for the second straight quarter in the April-to-June period. Japanese shares also tracked overnight losses on Wall Street amid growing concerns that aggressive monetary tightening by major central banks could tilt the global economy into recession. Technology stocks led the market lower, with sharp losses from SoftBank Group (-2%), Tokyo Electron (-3.7%), Recruit Holdings (-2.9%), Renesas Electronics (-3.1%) and Sumco Corp (-3.6%). Other index heavyweights also declined, including Toyota Motor (-1.6%), Fast Retailing (-4%) and Mitsubishi Corp (-5.4%).
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 2022.
The Japan Stock Market Index (JP225) is expected to trade at 24751.45 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 23124.84 in 12 months time.