Fast Retailing Co., Ltd. (FRCOY)
- Reuters
Japan's Nikkei recovers from 1-month low on Wall Street gains after Fed move
Japan's Nikkei share average rebounded from a more than one-month low on Thursday, tracking overnight Wall Street strength, after the Federal Reserve in an expected move hiked interest rate by 75 basis points, as it tries to rein in U.S. inflation. The Nikkei rose 1.4% to 26,694.05 by the midday break and was set to snap a four-day losing run that took it to its lowest close since May 12 on Wednesday, but it was well off the day's highs as an approach toward the psychological 27,000 mark was met with profit taking. Fed Chair Jerome Powell said that a 75 bp increase "seemed like the right thing to do at this meeting," but added that hikes of that size, the biggest since 1994, were not likely to be "common".
- Reuters
Uniqlo owner to raise prices on fleece products due to weak yen
The owner of Japanese clothing brand Uniqlo said on Tuesday it will raise prices on some goods this fall, reflecting increasing cost pressures from the weak yen and logistical hurdles. Prices on fleece goods and down jackets in the fall/winter product lines will go up by 1,000 yen ($7.54), a spokesperson confirmed, after an earlier report by the Jiji news service. Consumer prices are surging in Japan after decades of deflation, driven by the yen's drop to a 20-year low against the dollar and soaring energy costs.
- Reuters
CORRECTED-Uniqlo owner to raise prices on fleece products due to weak yen
The owner of Japanese clothing brand Uniqlo said on Tuesday it will raise prices on some goods this fall, reflecting increasing cost pressures from the weak yen and logistical hurdles. Prices on fleece goods and down jackets in the fall/winter product lines will go up by 1,000 yen ($7.54), a spokesperson confirmed, after an earlier report by the Jiji news service. Consumer prices are surging in Japan after decades of deflation, driven by the yen's drop to a 20-year low against the dollar and soaring energy costs.
