Japan Stocks end lower in choppy trade

Japan share market finished session lower in choppy trade on Wednesday, 24 June 2020, as investors elected to book recent profit on the yen's rise overnight against the U.S. dollar and concerns over rising coronavirus cases. TSE sectors were mixed, with marine transportation and food issues led notable decliners, while rubber product and precision instrument issues were notable gainers.

At closing bell, the 225-issue Nikkei Stock Average fell 14.73 points, or 0.07%, to 22,5434.32. The broader Topix index of all First Section issues on the Tokyo Stock Exchange shed 6.64 points, or 0.42%, at 1,580.50.

Tokyo stocks drifted lower on Wednesday after the Japanese capital announced 55 new coronavirus cases, the highest since the country lifted a nationwide state of emergency on May 25.

 

Exporters were mixed, with Toyota gaining 1.17% to 6,977 yen and Nissan dropping 1.27% to 417.6 yen. Sony edged up 0.13% to 7,650 yen while Uniqlo casual wear operator Fast Retailing advanced 0.51% to 62,970 yen.

SoftBank Group dropped 1.83% to 5,396 yen after it said T-Mobile's shares were priced at $103 per share in a $20 billion-plus deal that will let co-owner SoftBank Group offload a stake in the wireless carrier.

CURRENCY: The Japanese yen traded at 106.51 per dollar after strengthening sharply from levels above 107 yesterday.

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