Japan Nikkei falls 0.4%

Japan share market finished session lower on Wednesday, 28 December 2022, with aviation, realty, shipping, and IT stocks pacing the declines on the back of weak Wall Street overnight cues and lingering worries over China's COVID-19 situation.

The 225-issue Nikkei Stock Average index declined 107.37 points, or 0.41%, to finish at 26,340.50. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 1.13 points, or 0.06%, to 1,909.02.

ECONOMIC NEWS: The Bank of Japan released the minutes of its December 19-20 monetary policy meeting, in which the central bank kept its ultra-easy policy but shocked market with a surprise tweak to its bond yield control, so that long-term interest rate can rise more.

 

CURRENCY NEWS: The yen eased against the dollar after a summary of opinions at the BOJ December meeting showed board members discussed growing prospects that higher wages could finally eradicate the risk of a return to deflation. The Japanese yen stood at 134.07 against US dollar in Asian trade on Wednesday, 0.5% depreciated from yesterday's close of 133.48, after trading in the range between 133.38-134.40.

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