The Stock Market in Japan Ended With A Loss on Wednesday

The stock market in Japan ended with a loss on Wednesday. An appreciation of the Japanese yen, which is considered a safe haven in uncertain times, and disappointing quarterly reports from some large Japanese companies caused a negative mood.

 

Investors were also looking forward to the interest rate decision of the US Federal Reserve (Fed) to be released later today.

The Nikkei in Tokyo closed 1.2 percent in the minus at 22,397.11 points. Nissan plummeted 10.4 percent. The Japanese auto group expects to lose $ 4.5 billion this fiscal year due to the corona crisis. That would be the company’s most significant loss since 1977.

Canon lost nearly 14 percent and tapped the lowest price level since 1999. The maker of cameras and printers reported its first quarterly loss ever. Robot maker Fanuc warned of a drop in earnings in the current fiscal year, dropping about 8 percent.

The other stock market indicators in the Asian region predominantly improved. The main index in Shanghai was a positive outlier, up 1.4 percent in the meantime.

The Hang Seng index in Hong Kong gained 0.1 percent, and the Kospi in Seoul climbed 0.3 percent. The Australian All Ordinaries in Sydney lost 0.2 percent.