Japan's Nikkei ends lower as Kioxia tanks, Tokyo Electron rises on strong outlook
EWJ•Japan's Nikkei fell 0.33% to 63,081.86, while the Topix dropped 0.88% to 3,930.28. Kioxia sank 15.78% after its outlook disappointed investors, while Tokyo Electron rose 5.16% after forecasting 50% annual net profit growth.
1. Market closes lower
Japan's Nikkei share average ended 0.33% lower at 63,081.86 on Monday, while the broader Topix fell 0.88% to 3,930.28. Kioxia was the biggest drag on the Nikkei after its outlook for the quarter through December disappointed investors.
2. Company results diverge
Tokyo Electron rose 5.16% after forecasting its annual group net profit would rise 50%, beating analysts' expectations. Panasonic Holdings advanced 5.41% after raising its full-year operating profit forecast by 20% to 710 billion yen, citing factors including stronger-than-expected AI-related demand.
3. Banks also weaken
Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group fell around 2% each. Of more than 1,500 stocks on the Tokyo Stock Exchange's prime market, 32% rose, 65% fell and 2% were unchanged.
