Friday , August 6 2021

Japanese Nikkei falls after American mid-term elections, car stocks fall Market talk

Japanese Nikkei ended Wednesday on unstable trade, as investors measured the impact of US medium-term policy choices after the Democrats gained control over the House of Representatives.

Nikkei dropped 0.3% to 22085.80 points after the volatility index during the session.

With the republican party of Republican President Donald Trump, who retains the majority in the Senate, the results are in line with market expectations.

Some traders expect investors to return to the US-China trade war as US and Chinese leaders prepare for talks at the G20 summit in Argentina later this month.

Japanese car stocks fell, with Honda Motor falling 2.7 percent and Nissan Motor lower 1.1 percent.

While Olympus Corp fell 4.5 percent after the company lowered the net profit forecast for the year to March at 26 billion yen ($ 229.68 million) with 40 billion yen.

Mitsubishi shares fell by 8.3 percent after they lowered the net profit forecast to 25 billion yen by 35 billion yen in the year to March.

Contrary to downtrend, telecommunications giant NTT grew by 4.9 percent after announcing it would buy shares worth up to 150 billion yen.

The company also announced a mid-term business plan with a profit of 640 yen for the fiscal year ended 2024, which is 50 percent more than 425 yen in the fiscal year that ended in 2018.

The wider TOPIX index was 0.4 percent at 1.652,43 points. The number of falling shares rose by 1095 to 939 shares.

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