TOKYO, May 25 (Reuters) - Japanese shares edged lower on
Wednesday after two major U.S. stock indexes fell overnight, but
the decline was limited as some investors scooped up beaten-down
The Nikkei share average had eased 0.2% to 26,705.96
by 0220 GMT, while the broader Topix was 0.04% lower at
The S&P 500 and the Nasdaq finished in the red overnight as
worries that aggressive moves to curb decades-high inflation
might tip the U.S. economy into recession soured risk appetite.
"We have not seen any market-moving cues and investors were
cautious in making bets ahead of the next FOMC (the U.S. Federal
Open Market Committee) meeting," said Shuji Hosoi, a senior
strategist at Daiwa Securities.
"There has not been any sign that would ease concerns about
economic slowdown, however domestic equities have fallen to a
level where investors could buy them cheap."
The Nikkei, which has had a rollercoaster ride in the past
year, is forecast to climb more than 7% to 29,000 by end-2022, a
level last seen at the start of January, according to analysts
in a Reuters poll.
Staffing agency Recruit Holdings fell 4.41% and was
the biggest drag on the Nikkei, while technology investor
SoftBank Group slipped 1.12%.
Game maker Nintendo fell 2.85%.
Lens maker Hoya gained 3.48% and was the top gainer
among the top 30 core Topix names, followed by drug Daiichi
Sankyo, which climbed 4.88%.
There were 93 advancers on the Nikkei index against 125
The volume of shares traded on the Tokyo Stock Exchange's
main board was 0.57 billion, compared with the average 1.26
billion in the past 30 days.
(Reporting by Junko Fujita; Editing by Subhranshu Sahu)