Nikkei wobbles as investors fret about yen, Trump's policies

  • Reuters
  • Stock Market News
Nikkei wobbles as investors fret about yen, Trump's policies
Credit: © Reuters.

* Wall Street skids as investors weigh Trump's policies

* Trump criticises Japan, Germany for their currency decisions

* Earnings in focus for investors this week

TOKYO, Feb 1 (Reuters) - Japan's Nikkei share average wobbled on Wednesday, undermined by a stronger yen currency and a drop on Wall Street as investors fretted about the impact of some of the Trump administration's policies.

While market participants remain hopeful that U.S. President Donald Trump will return his focus to tax reform, fiscal stimulus and deregulation, his protectionist stances and immigration curbs weighed on overall sentiment.

"There are lots of concerns about his policy moves, particularly for Japan whenever he mentions the currency rate," said Harumi Taguchi, principal economist at IHS Markit in Tokyo.

The dollar slumped after Trump and trade adviser Peter Navarro on Tuesday singled out Japan, China and Germany as key U.S. trading partners engaged in devaluing their currencies. Nikkei .N225 was flat at the end of morning trade, at 19,040.74 points.

"Below 19,000, the Nikkei's next support level lies at 18,800, and then at 18,500," said Yutaka Miura, a senior technical analyst at Mizuho Securities.

Later on Wednesday, the U.S. Federal Reserve is expected to keep interest rates unchanged when it concludes its two-day meeting, its first policy decision since Trump took office, as it awaits greater clarity on his economic policies. were in focus this week, with shares of Nintendo Co Ltd 7974.T dropping 3.7 percent after it cut its full-year profit forecast due to weak sales of console games. of Omron Corp 6645.T rose 6.6 percent after the Japanese electronics maker raised its operating profit guidance for the fiscal year through March. Co Ltd 7752.T slipped 7.3 percent after posting a smaller net profit in the nine months through December and cutting its full year guidance. of steel group JFE Holdings Inc 5411.T were up 3.6 percent, after it raised its operating profit forecast for its fiscal year through March. broader Topix .TOPX slipped 0.3 percent to 1,517.67, while the JPX-Nikkei Index 400 .JPXNK400 also fell 0.3 percent to 13,608.00.

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