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Japan stock market finished the session lower on Wednesday, 31 May 2023, with the Nikkei 225 falling from the 33-year highs and snapping the four-session winning streak, as investors opted to book some of recent gains amid strengthening of the yen against the U.S. dollar and mixed data on retail sales and industrial production. The 225-issue Nikkei Stock Average index retreated by 440.28 points, or 1.41%, to finish at 30,887.88. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 28.59 points, or 1.32%, to 2,130.63. ECONOMIC NEWS: The total value of retail sales in Japan was up 5% on year in April to 13,207 billion yen following the 6.9% gain in March, the Ministry of Economy, Trade and Industry or METI said on Wednesday - coming in at 13,207 billion yen. The Ministry of Economy, Trade and Industry also said that industrial production in Japan was down a seasonally adjusted 0.4% on month in April following the 1.1% gain in March. On a yearly basis, industrial output fell 0.3% after slipping 0.6% in the previous month. According to the METI's forecast of industrial production, output is expected to rise 1.9% on month in May and 1.2% in June. CURRENCY NEWS: The dollar stood at 139.41 yen in late Tokyo trade, down 0.3% from 139.80 yen on Tuesday, after trading in-between 139.31-139.93. Powered by Capital Market - Live News
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