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EQUITIES: Japanese Equities Edge Slightly Higher, Uniqlo Beats Estimates

EQUITIES
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  • 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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  • 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.