Japan: Nikkei extends losses

Japan share market finished session slight lower on Wednesday, 25 May 2022, as investors risk sentiments remain subdued on caution ahead of the release later in the day of minutes from the U.S. Federal Reserve's latest policy-setting meeting to gauge the future pace of monetary tightening in response to high inflation in the United States.

At closing bell, the 225-issue Nikkei Stock Average fell 70.34 points, or 0.26%, to 26,677.80. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 1.68 points, or 0.09%, to 1,876.58.

Shares of exporters ended lower. Among automakers, Honda Motor dropped 2.2% and Nissan Motor fell 0.2%.

 

Shares of technology issues lost steam after the tech-heavy U.S. Nasdaq index plunged more than 2% overnight. Murata Manufacturing fell 1.4% and Alps Alpine dipped 1.4%.

CURRENCY NEWS: The dollar was around 127 yen in late Tokyo trading on Wednesday, ahead of the release of minutes from the U.S. Federal Reserve's latest Federal Open Market Committee meeting. At 5 p.m., the dollar stood at 127.12-12 yen, down from 127.28-28 yen at the same time Tuesday.

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