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Free AccessEQUITIES: Japanese Equities Edge Slightly Higher, Uniqlo Beats Estimates
- Japanese equities are slightly higher this morning, with the Topix +0.20% & Nikkei +0.30%.
- Fast retailing (Uniqlo) up 2.30% and the largest weighting in the Nikkei reported record annual revenue of ¥3.1t ($20.8b) for the fiscal year ending in August 2024, despite a slowdown in China. The growth was driven by increased demand from North America, Europe, and the broader Asia-Pacific region, helping the company target an operating profit of ¥530bi for the current fiscal year, exceeding analyst estimates.
- The market will be closely watching the USD/JPY as the pair neared 150.00 on Thursday, with further weakening likely to see support for exporters and could see the Nikkei trade back above 40,000 for the first time since mid-July.
- Earlier we had Japan Money supply which was inline with priors months numbers.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.