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

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

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 .N225 eased 0.05% to 23,589.35 by the midday break, while the broader Topix .TOPX lost 0.51% to 1,640.69.

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

On Tuesday, major indexes on Wall Street ended lower as Johnson & Johnson JNJ.N and Eli Lilly (NYSE: LLY ) and Co LLY.N halted coronavirus vaccine trials over safety concerns, dampening investor sentiment. 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. home, Apple-related issues underperformed on profit-taking and dented by a 2.7% fall in Apple Inc AAPL.O shares following an event where the company unveiled its latest iPhone. TDK Corp 6762.T and Taiyo Yuden 6976.T fell about 0.9%, and Murata Manufacturing Corp 6981.T lost 0.63%.

Financial shares also took a hit from a weak performance in their U.S. peers, with Sumitomo Mitsui Financial Group 8316.T and Mitsubishi UFJ Financial Group 8306.T down about 1.7% each, while Mizuho Financial Group 8411.T slipped 2.67%.

ANA Holdings 9202.T dipped 3.58% after reports that the company was going to cut monthly wages for all workers by 5%. Steel 5401.T lost 3.04% on news that the company would sell two U.S. plants as it speeds up a reorganisation in overseas operations. the Mothers Index .MTHR of start-up firms gained 1.19%.

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