Japanese shares dip as U.S. stimulus halt revives economic uncertainty

  • Reuters
  • Stock Market News
Japanese shares dip as U.S. stimulus halt revives economic uncertainty

TOKYO, Oct 7 (Reuters) - Japanese stocks on Wednesday tracked Wall Street lower, as economic uncertainty resurfaced after U.S. President Donald Trump halted negotiations for additional stimulus to aid the coronavirus-battered economy until after the election.

Concerns that the lack of stimulus could further delay recovery of the world's largest economy dampened global investor sentiment.

The benchmark Nikkei share average .N225 fell 0.13% to 23,402.83 by the midday break, while the broader Topix .TOPX lost 0.06% to 1,644.71.

Nearly two-thirds of 33 sector sub-indexes on the Tokyo exchange traded in the red, with pharmaceuticals .IPHAM.T , land transport .IRAIL.T and fisheries and forestry .IFISH.T leading the decliners on the main bourse.

Prospects for additional U.S. coronavirus bill crumbled after President Trump announced on Twitter that he was calling off negotiations with Democratic lawmakers on coronavirus relief legislation until after the election. home, Boeing-related shares Mitsubishi Heavy Industries 7011.T and Kawasaki Heavy Industries 7012.T dropped more than 1% each, in line with their U.S. peers as Boeing (NYSE: BA ) Co BA.N cut its rolling 20-year forecast for airplane demand on the coronavirus crisis. Honsha Co 2267.T slipped 6.44% after French food group Danone DANO.PA said it would sell its remaining 500 million euro ($586.60 million) stake in the Japanese probiotic yogurt maker. Fujitsu 6702.T inched up 0.04%, Nippon Telegraph and Telephone Corp 9432.T jumped 3.4%, while Fanuc 6954.T edged 0.15% lower after the three firms said they would set up cloud service joint venture for manufacturing companies. the sombre mood, the Mothers Index .MTHR of start-up firms rose 1.18%.

($1 = 0.8524 euros)

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