Japan: Stocks end mixed

Japan share market finished session mixed on Wednesday, 14 October 2020, following Wall Street's weak lead overnight, as investor sentiment was dented after two coronavirus medical trials were paused over potential safety concerns and as a stalemate in U.S. fiscal stimulus negotiations continued.

At closing bell, the 225-issue Nikkei Stock Average added 24.95 points, or 0.11%, to 23,626.73. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 5.20 points, or 0.32%, to 1,643.90.

Total 27 issues of the 33 industry category of Topix index ended into red territory, with Air Transportation, Iron & Steel, Nonferrous Metals, Rubber Products, Mining, Banks, and Pulp & Paper issues being notable losers, while Retail Trade, Information & Communication, Precision Instruments, and Chemicals issues were notable gainers.

Trading got off to a downbeat start on the back of Wall Street declining overnight, with investors concerned about the prospect of a stimulus package in the United States much needed in the midst of the adverse economic effects of the novel coronavirus pandemic. Investor hopes for the U.S. coronavirus relief package faded further, as U.S. House Speaker Nancy Pelosi rejected a $1.8 trillion coronavirus relief proposal from the White House.

Adding to a downbeat mood were drugmakers Johnson & Johnson and Eli Lilly and Co. halting their coronavirus vaccine candidate and antibody treatment trials due to safety concerns, with at least one person becoming ill in one of the trials, according to sources close to the matter.

CURRENCY NEWS: The Japanese yen traded at 105.39 per dollar, having seen levels around 105.3 against the greenback earlier in the trading week.

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