Market Update
Sumitomo Mitsui Trust Group Inc’s stock price has declined in recent sessions due to concerns over the domestic corporate outlook in Japan. The decline is attributed to a combination of factors.
Nikkei Share Average
The Nikkei share average has fallen for three consecutive days, with investors locking in profits from a recent rally. This decline is a result of investors reassessing their portfolios.
Factors Contributing to the Decline
- Worries about the impact of a 15% tariff on Japan’s exports to the US, which may hit corporate earnings
- Uncertainty surrounding Prime Minister Shigeru Ishiba’s leadership
- Potential for populist spending to shore up support for his coalition
Currency Performance
As a result of the market’s cautious sentiment, the yen has underperformed its major peers. Strategists are bearish on the currency, predicting further declines.
Key Statistics
- Sumitomo Mitsui Trust Group Inc’s stock price has declined in recent sessions
- Nikkei share average has fallen for three consecutive days
- Yen has underperformed its major peers