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Japanese shares dip as U.S. stimulus halt revives economic uncertainty

Published 10/07/2020, 10:29 AM
Updated 10/07/2020, 10:30 AM
JP225
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DANO
-
TOPX
-
7011
-
7012
-
6702
-
9432
-
6954
-
2267
-
IFISH.T
-
IPHAM.T
-
IRAIL.T
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MTHR
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TOKYO, Oct 7 (Reuters) - Japanese stocks on Wednesday
tracked Wall Street lower, as economic uncertainty resurfaced
after U.S. President Donald Trump halted negotiations for
additional stimulus to aid the coronavirus-battered economy
until after the election.
Concerns that the lack of stimulus could further delay
recovery of the world's largest economy dampened global investor
sentiment.
The benchmark Nikkei share average .N225 fell 0.13% to
23,402.83 by the midday break, while the broader Topix .TOPX
lost 0.06% to 1,644.71.
Nearly two-thirds of 33 sector sub-indexes on the Tokyo
exchange traded in the red, with pharmaceuticals .IPHAM.T ,
land transport .IRAIL.T and fisheries and forestry .IFISH.T
leading the decliners on the main bourse.
Prospects for additional U.S. coronavirus bill crumbled
after President Trump announced on Twitter that he was calling
off negotiations with Democratic lawmakers on coronavirus relief
legislation until after the election. Back home, Boeing-related shares Mitsubishi Heavy Industries
7011.T and Kawasaki Heavy Industries 7012.T dropped more
than 1% each, in line with their U.S. peers as Boeing Co BA.N
cut its rolling 20-year forecast for airplane demand on the
coronavirus crisis. Yakult Honsha Co 2267.T slipped 6.44% after French food
group Danone DANO.PA said it would sell its remaining 500
million euro ($586.60 million) stake in the Japanese probiotic
yogurt maker. Elsewhere, Fujitsu 6702.T inched up 0.04%, Nippon
Telegraph and Telephone Corp 9432.T jumped 3.4%, while Fanuc
6954.T edged 0.15% lower after the three firms said they would
set up cloud service joint venture for manufacturing companies.
Bucking the sombre mood, the Mothers Index .MTHR of
start-up firms rose 1.18%.

($1 = 0.8524 euros)


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