Japan Market ends lower

Japanese share market finished session slight lower on Wednesday, 12 October 2022, as risk sentiments subdued on following soft lead from Wall Street overnight and weaker than expected business confidence data. A downward revision in global growth forecast by the International Monetary Fund weighed as well.

At closing bell, the 225-issue Nikkei Stock Average index fell 4.42 points, or 0.02%, to 26,396.83. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 2.24 points, or 0.12%, to 1,869.

Shares of semiconductor related companies continued falling after Friday's US announcement of new export controls. Chip-making equipment manufacturer Tokyo Electron plummeted 4.38 percent to 35,090, and chip-testing equipment maker Advantest was down 2.86 percent to 6,780 yen.

 

CURRENCY NEWS: The dollar strengthened to top 146 yen for the first time since August 1998 in Tokyo trading on Wednesday, aided by buying backed by strong expectations that the U.S.-Japan interest rate gap will widen further.

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