Japan Stocks mixed on stronger yen, weak core machine order data

Japan share market finished session mixed on Wednesday, 10 June 2020, as traders cashed in on some of the market's recent gains on yen appreciation against greenback and weaker than expected Japan core machine orders data. Meanwhile, caution ahead of two-day policy meeting decision of the U.S. Federal Reserve later in the day also weighed on the market.

At closing bell, the 225-issue Nikkei Stock Average rose 33.92 points, or 0.15%, to 23,124.95. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 3.72 points, or 0.23%, at 1,624.71.

Among TSE 33 sub-sectors, gainers were led by service and chemical issues, while mining, and iron and steel issues led decliners.

 

ECONOMIC NEWS: Japan Core Machine Orders Tumble 12.0% On Month In April - Japan value of core machine orders tumbled a seasonally adjusted 12% on month in April, standing at 752.6 billion yen, the Cabinet Office said on Wednesday, following the 0.4% drop in March. On a yearly basis, core machine orders sank 17.7%, following the 0.7% decline in the previous month. For the second quarter of 2020, core machine orders are now forecast to have fallen 0.9% on quarter and 10.4% on year.

CURRENCY: The Japanese yen traded at 107.37 per dollar following its strengthening from levels above 107.8 yesterday.

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