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Japan stocks fall as U.S. stimulus hopes fade, yen firms

Published 15/10/2020, 03:27
© Reuters.
JP225
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TOPX
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8766
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9984
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6861
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6981
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By Stanley White
TOKYO, Oct 15 (Reuters) - Japanese stocks fell on Thursday
as fading hopes for a new round of U.S. fiscal stimulus hit
sentiment, while a stronger yen weighed on exporters.
The Nikkei index .N225 fell 0.38% to 23,537.52 by 0204
GMT, with the telecommunications and healthcare sectors leading
the decline. The broader Topix .TOPX fell 0.39% to 1,637.44.
U.S. Treasury Secretary Steve Mnuchin said reaching a
compromise with the Democrats on a fiscal stimulus was unlikely
before elections on Nov. 3, raising concerns about the economic
outlook for an economy reeling from the impact of the COVID-19
pandemic. Stocks in Japan also weakened as the yen JPY=D3 edged
higher against the dollar, which tends to reduce overseas
earnings for the country's exporters.
The biggest underperformers among the top 30 core Topix
names were venture capitalist SoftBank Group Corp 9984.T down
1.95%, followed by electronic parts maker Keyence Corp 6861.T
losing 1.63%.
The stocks that gained the most among the Topix 30 were
insurer Tokio Marine Holdings Inc 8766.T up 1.05%, followed by
electronic parts maker Murata Manufacturing Co Ltd 6981.T
rising 1.28%.
There were 115 advancers on the Nikkei index against 102
decliners.
The volume of shares traded on the Tokyo Stock Exchange's
main board .TOPX was 0.33 billion, compared with the average
of 1.11 billion in the past 30 days.

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