Japan Markets Edge Up Slightly

19-Jun-24   16:59 Hrs IST
Japanese markets edged up slightly as the minutes of Bank of Japan's April policy meeting showed policymakers debated the impact a weak yen could have on prices, with an official stressing the need for raising interest rates in a timely and appropriate manner.

The Nikkei average rose 0.23 percent to 38,570.76 while the broader Topix index settled 0.47 percent higher at 2,728.64.

Mitsubishi Motors topped the gainers list to rise 9 percent. Chip-related Advantest surged 4.1 percent.

Meanwhile, Japan's exports grew at the fastest pace since 2022 in May despite the fall in sales volume, official data revealed on Wednesday. Exports advanced 13.5 percent on a yearly basis after rising 8.3 percent in April, the Ministry of Finance said.

At the same time, growth in imports edged to 9.5 percent from 8.3 percent in April. Imports were forecast to climb at a faster pace of 10.4 percent. As a result, the trade balance showed a shortfall of JPY 1.22 trillion compared to the expected level of JPY 1.3 trillion.

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