Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Japanese shares fall on rising yen, U.S. political uncertainty

Published 10/22/2020, 10:29 AM
Updated 10/22/2020, 10:30 AM

By Stanley White
TOKYO, Oct 22 (Reuters) - Japanese shares fell on Thursday
as a rise in the yen threatened earnings of export-focused
stocks, while uncertainty ahead of the U.S. presidential
election weighed on sentiment.
The Nikkei 225 Index .N225 fell 0.64% to 23,489.27 by 0153
GMT while the broader Topix .TOPX was down 1.05% at 1,620.32.
The yen JPY=D3 jumped to a one-month high against the
dollar on Wednesday, pressuring shares of Japanese companies
that export autos and consumer goods.
Analysts attributed the yen's move to the broader sell-off
in the dollar as investors grow more concerned about stalled
negotiations over a new round of U.S. fiscal stimulus.
Some traders are also reducing their exposure to riskier
assets ahead of the U.S. elections on Nov. 3, which could cap
gains in Japanese shares.
The top underperformers among the Topix 30 on Thursday were
Central Japan Railway Co 9022.T , down 3.78%, followed by drugs
maker Daiichi Sankyo Co Ltd 4568.T , losing 3.14%.
Share of ANA Holdings Inc 9202.T slumped 4.43% to hit the
lowest level in more than two months after media reports that
the airline will book a record net loss for the fiscal year to
March as the pandemic devastates global travel demand.
Weighed down partly by a stronger yen, Toyota Motor Co
7203.T fell 0.81%, Honda Motor 7267.T lost 1.67% and Sony
Corp 6758.T slid 0.99%.
The stocks that gained the most among the Topix core 30
names were industrial robot maker Fanuc Corp 6954.T , up 0.28%,
followed by Shin-Etsu Chemical Co Ltd 4063.T , gaining 0.07%.
There were 44 advancers on the Nikkei index against 176
decliners.
The volume of shares traded on the Tokyo Stock Exchange's
main board .TOPX was 0.33 billion, compared with the average
of 1.09 billion in the past 30 days.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.