Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Japanese shares fall on U.S. Fed's gloomy economic view

Published 08/20/2020, 11:24 AM
Updated 08/20/2020, 11:30 AM

TOKYO, Aug 20 (Reuters) - Japanese shares fell on Thursday,
tracking Wall Street lower, as the U.S. Federal Reserve's
minutes showed that policymakers were concerned about the
uncertain path of economic recovery from the coronavirus
pandemic.
The benchmark Nikkei share average .N225 fell 0.7% to
22,948.86 by the midday break, with 73 advancers on the index
against 146 decliners.
The broader Topix .TOPX lost 0.5% to 1,605.67. All but six
of the 33 sector sub-indexes on the Tokyo exchange traded in
negative territory, with real estate .IRLTY.T , electric
appliances .IELEC.T and metal products .IMETL.T being the
three worst performers.
Minutes from the Fed's July 28-29 meeting published on
Wednesday showed policymakers judged that the swift rebound in
employment seen in May and June had likely slowed and that
additional "substantial improvement" in the labour market would
hinge on a "broad and sustained" reopening of business activity.
Following the Fed's minutes, Wall Street retreated to close
lower, while the dollar put on the biggest one-day surge since
March. .N FRX/
The yen weakened to last trade at 106.09 per dollar, which
analysts say supported the Japanese market from further
declines.
Shares of semiconductor-related companies underperformed, as
sentiment was hit after the U.S. Philadelphia semiconductor
index .SOX lost 0.63% overnight.
Screen Holdings Co Ltd 77.35.T slipped 4.07%, while Tokyo
Electron Ltd 8035.T and Advantest Corp 6857.T fell 2.16% and
2.65%, respectively.
The Mothers Index .MTHR of start-up firm shares lost
0.88%, a day after it rallied to a two-year high.
Panasonic 6752.T was one of the top percentage gainers in
the index, rising 2.59%, after media reported the company would
invest more than $100 million to boost its battery production
capacity for Tesla TSLA.O .

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
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.