At closing bell, the 225-issue Nikkei Stock Average index declined 40.74 points, or 0.11%, to 36,119.92. The broader Topix index of all First Section issues on the Tokyo Stock Exchange advanced 10.70 points, 0.42%, to 2,549.95
ECONOMIC NEWS: Japan Leading Economic Index Climbs To 14-Month High-- Japans index of leading economic indicators, which is used to gauge the economic outlook for a few months ahead increased to 110.0 in December from an upwardly revised 108.1 in the prior month and exceeded forecasts of 109.4, preliminary figures showed. It was the highest reading since October 2022. Meanwhile, the coincident index climbed to 116.2 in December from a final 114.6, preliminary data showed. It was the highest reading since September 2019, as a recovery in the economy gained momentum amid improvement in employment and income situation as well as better corporate profits.
Japan's Reserve Assets Decline in January 2024- Japan's reserve assets dipped to $1.292 trillion in January 2024 from December's 17-month high of $1.295 trillion. The breakdown includes foreign currency reserves at $1.156 trillion, IMF reserve position at $10,849 million, SDRs at $55,591 million, gold at $55,846 million, and other reserve assets at $13,337 million. Furthermore, the government reported no foreign exchange intervention operations from October through December 2023.
CURRENCY NEWS: The yen was down to 147.90 against greenback on Wednesday, compared with 148.51 on Tuesday.
Asian stocks rose broadly on Wednesday, with positive cues from Wall Street overnight and hopes of more support from Beijing. Australia benchmark S&P ASX 200 rose 0.45%. New Zealand's benchmark S&P NZX-50 index edged up 0.2%. China's Shanghai Composite index rallied 1.4%. Seoul Kospi average jumped 1.3%. Hong Kong's Hang Seng index slipped 0.34%.
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