Shin-Etsu Chemical Q4 EPS $0.16 Down From $0.17 YoY, Sales $4.080B Down From $4.141B YoY

Benzinga07:06 ET

Profit-taking sales have gained the upper hand, driven by a correction from the recent rise and speculation about the Bank of Japan's potential interest rate hike.

The Nikkei Average fell after three trading days, closing at 59,917.46 yen, down 619.90 yen (with an estimated trading volume of 2.67 billion shares). Profit-taking, primarily in semiconductor and artificial intelligence (AI)-related stocks, dominated due to a reaction against the recent rapid pace of stock price increases, causing the Nikkei Average to open lower. Additionally, the decline of the SOX index in the U.S. market the previous day, which marked its first drop in 19 trading sessions, also appeared to prompt selling. During the lunch break, results from the Bank of Japan’s Monetary Policy Meeting were announced.

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