Saham JepangIndeksTopixIndeksNikkei 225
The Topix index erased its morning gain, as the prospect of a rate cut in the U.S. boosted the yen and pressured Japan's export-focused equities.
Electronics and machinery makers weighed the most on the benchmark stock gauge, while drugmakers provided downside support. The yen strengthened as much as 0.3% against the dollar as money markets moved to price in a half-point cut in U.S. interest rates this month
The possibility of a rate cut by the U.S. Federal reserve fueled the gain in the Japanese currency, according to Tetsuo Seshimo, a fund manager at Saison Asset Management Co. “The yen is strengthening in a risk-off environment,” he said. “For Japanese equities to rally, we need clear signs that the virus outbreak is coming to an end, or that the virus's global spread is slowing.”
Topix -0.2% at 1,523.07 as of midday break in Tokyo vs +1.7% earlier. Nikkei 225 +0.1% at 21,355.20 vs +1.8% earlier. Yen +0.2% at 108.08 per dollar.
Source : Bloomberg