Japan's Nikkei falls as yen intervention fears keep investors cautious
TM•Mixed moves among heavyweights and earnings laggards
Japan's AI-linked heavyweights were mixed, with technology investment conglomerate SoftBank Group 9984.T losing 4.5%, while cables and optical fibre manufacturer Fujikura 5803.T surged 5%.
Toyota Motor 7203.T, the world's biggest automaker, is expected to post a fifth straight quarterly decline in operating profit, hit by weaker vehicle sales and rising costs.
Investors may also scrutinise Toyota's assumed exchange rates and related guidance, given the sensitivity of its earnings to currency swings, said Hiroshi Namioka, chief strategist at T&D Asset Management.
Overall, market breadth was negative, with 141 decliners in the Nikkei against 83 gainers and one unchanged.
The largest losers by percentage in the index were meat processor NH Foods 2282.T, down 8.69%, followed by parcel delivery and logistics company Yamato Holdings 9064.T, which shed 5.63%, after their earnings disappointed investors.
The largest percentage gainers in the index were cables and components manufacturer Furukawa Electric 5801.T, up 9.97%, followed by pharmaceutical company Otsuka Holdings 4578.T, gaining 7.09%.
Nikkei slips as investors watch yen intervention risk
Japan's Nikkei share average slipped on Tuesday as investors remained wary of further yen-buying intervention and awaited Toyota Motor's quarterly results later in the day.
The Nikkei .N225 fell 0.11% to 63,684.85 by the midday recess, while the broader Topix .TOPX slid 0.26% to 3,949.90.
The Nikkei dropped nearly 1% on Monday after Japan's Finance Ministry said Tokyo and Washington had conducted coordinated yen-buying intervention and would not hesitate to take further action.
