Sanrio Co., the owner of the Hello Kitty brand, experienced its largest share price drop since May 2014, plummeting up to 17% in early Tokyo trading. This decline followed the announcement that President Tomokuni Tsuji and MUFG Bank Ltd. would sell approximately 25.9 million shares, with pricing set for December 10. Trading volume exceeded 300% of the three-month average, indicating heightened market activity.
The SMI closed lower, with Novartis, Roche, and Nestlé experiencing losses, while Wall Street showed positive momentum and cryptocurrencies gained. In individual stocks, TDK surged 7% after raising its profit forecast, Nomura Holdings climbed 8% following a significant quarterly profit increase, and Sanrio's shares rose 14% after boosting its net profit outlook. Despite these gains, caution prevails among investors ahead of the US presidential election, contributing to high volatility in the Nikkei.
Wall Street showed positive momentum, while the Swiss stock market faced losses, with major companies like Novartis, Roche, and Nestlé declining. In Japan, TDK surged 7% after raising its profit forecast, and Nomura Holdings climbed 8% following a significant quarterly profit increase. Despite these gains, investor caution prevails ahead of the US presidential election, contributing to high volatility in the Nikkei.
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