FX.co ★ Japanese Shares Extend Losing Streak

The Nikkei 225 index decreased by 0.3%, settling at approximately 44,900, while the Topix index declined by 0.2% to 3,125 on Tuesday. This marks the third consecutive day of downturns, as weaker-than-expected economic data has negatively affected investor sentiment. Japan experienced a 1.1% drop in retail sales for the month of August, contrary to forecasts which anticipated a 1% rise. This signifies the first decline since February 2022. Additionally, industrial output fell more than anticipated, highlighting ongoing challenges for the Japanese economy. Investors are now focusing on upcoming crucial indicators such as the Tankan business sentiment survey, consumer confidence statistics, and the latest Summary of Opinions from the Bank of Japan, which will provide further insights into future policy and economic growth. Key contributors to market losses included prominent companies like SoftBank Group, which fell by 2.1%, Fujikura by 1.7%, Mitsubishi Heavy Industries by 0.9%, Tokyo Electric Power by 1.6%, and Sony Group by 0.6%.