August 26, 2024 at 02:14 am EDT
(MT Newswires) -- Japanese shares ended lower on Monday as the yen climbed to a three-week high, weighing on exporter stocks amid divergent central bank signals.
The Nikkei 225 fell 0.66%, or 254.05 points, to close at 38,110.22.
The dollar declined 0.3% to 143.97 yen, extending its 1.3% drop from Friday.
Federal Reserve Chair Jerome Powell's dovish outlook contrasted sharply with Bank of Japan (BOJ) Governor Kazuo Ueda's hawkish stance.
Powell hinted at imminent rate cuts and expressed confidence in achieving the Fed's 2% inflation target, while Ueda's recent actions, including a surprise rate hike, underscored a commitment to tighter policy.
The BOJ's measures, aimed at combating inflation, triggered a market rout and led to assurances against further hikes until stability is restored.
In corporate updates, Komatsu (TYO:6301) fell over 2% after the company disclosed plans to acquire the remaining shares in UMW Komatsu Heavy Equipment in Malaysia, raising its stake to 100% and turning it into a wholly-owned subsidiary.
Sumber : MT Newswires
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