The Nikkei ended trading at ¥68,512, down ¥529 from the previous day. Selling led the market lower despite Fast Retailing announcing an outlook for record profit for the seventh consecutive year, spreading concern about an earnings-driven market.
In the Tokyo stock market on the morning of the 9th, the Nikkei fell for a second straight session, ending at ¥68,512, down ¥529 from the previous day.
Fast Retailing, which operates Uniqlo, was bought in the morning but turned lower, weighing on the stock market. Although an outlook for record profit for the seventh consecutive year was reported, the response was limited.
With upward pressure on interest rates simmering globally, some concern is spreading about the scenario of an earnings-driven market emerging on the back of the April–September results of major companies.
Market participants are watching upcoming earnings announcements and interest-rate trends while awaiting fresh clues about how the earnings-driven market will develop.