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MarketScreener Homepage  >  Indexes  >  Nikkei 225    N225   JP9010C00002


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Japan shares retreat as COVID-19 vaccine, U.S. stimulus hopes wane

10/13/2020 | 10:58pm EST

TOKYO, Oct 14 (Reuters) - Japanese shares retreated on Wednesday, following Wall Street's fall overnight as stalled COVID-19 vaccine trials and lack of agreement on additional U.S. fiscal stimulus weighed on market sentiment.

The benchmark Nikkei share average eased 0.05% to 23,589.35 by the midday break, while the broader Topix lost 0.51% to 1,640.69.

All but five of the 33 sector sub-indexes on the Tokyo exchange traded lower, with airlines, iron and steel and miners leading the decline on the main bourse.

On Tuesday, major indexes on Wall Street ended lower as Johnson & Johnson and Eli Lilly and Co halted coronavirus vaccine trials over safety concerns, dampening investor sentiment.

Fading hopes for a new U.S. coronavirus relief package were also weighing on the market, as U.S. House Speaker Nancy Pelosi rejected a $1.8 trillion coronavirus relief proposal from the White House.

Back home, Apple-related issues underperformed on profit-taking and dented by a 2.7% fall in Apple Inc shares following an event where the company unveiled its latest iPhone.

Both TDK Corp and Taiyo Yuden fell about 0.9%, and Murata Manufacturing Corp lost 0.63%.

Financial shares also took a hit from a weak performance in their U.S. peers, with Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group down about 1.7% each, while Mizuho Financial Group slipped 2.67%.

ANA Holdings dipped 3.58% after reports that the company was going to cut monthly wages for all workers by 5%.

Nippon Steel lost 3.04% on news that the company would sell two U.S. plants as it speeds up a reorganisation in overseas operations.

Elsewhere, the Mothers Index of start-up firms gained 1.19%. (Reporting by Eimi Yamamitsu; Editing by Subhranshu Sahu)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ANA HOLDINGS INC. 2.45% 2550 End-of-day quote.-29.98%
APPLE INC. -0.11% 122.94 Delayed Quote.67.66%
ELI LILLY AND COMPANY -0.72% 144.11 Delayed Quote.9.65%
MITSUBISHI UFJ FINANCIAL GROUP, INC. -0.84% 450.9 End-of-day quote.-23.99%
MIZUHO FINANCIAL GROUP, INC. 0.45% 1350 End-of-day quote.-19.79%
MURATA MANUFACTURING CO., LTD. 0.42% 9065 End-of-day quote.34.38%
NIKKEI 225 0.03% 26809.37 Real-time Quote.13.29%
NIPPON STEEL CORPORATION 0.23% 1326 End-of-day quote.-19.83%
SUMITOMO MITSUI FINANCIAL GROUP, INC. -1.12% 3103 End-of-day quote.-23.16%
TAIYO HOLDINGS CO., LTD. -0.16% 6430 End-of-day quote.44.33%
TAIYO YUDEN CO., LTD. -0.11% 4740 End-of-day quote.41.28%
TDK CORPORATION -0.62% 14450 End-of-day quote.16.63%
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