Nikkei lower in wait-and-see trade


The stock market in Japan is closed lower on Wednesday. A fall in the price of Japanese pharmaceutical company Dainippon Sumitomo Pharma negated optimism about the better-than-expected quarterly figures of tech giant Apple. In addition, we awaited the trade negotiations between the United States and China and the interest rate decision of the American Federal Reserve, which comes out later in the day.

The leading Nikkei in Tokyo eventually ended 0.5 percent in the minus 20.556.54 points. Dainippon Sumitomo Pharma plummeted nearly 20 percent. The company said that an investigation of a candidate drug in the United States did not meet expectations. Alps Alpine fell 3.1 percent. The Japanese supplier to Apple lowered its profit forecast. Technology company TDK, which also supplies parts to Apple, won 0.6 percent ahead of the quarterly figures of the company.

The other fairs in the Far East showed a mixed picture. The Shanghai stock exchange was 0.2 percent lower in the interim and in Hong Kong the Hang Seng index was virtually unchanged. A delegation led by China’s Deputy Prime Minister Liu He talks in Washington on Wednesday and Thursday about the trade dispute between the two superpowers.

The Kospi in Seoul measures 0.7 percent. The South Korean screens maker LG Display lost more than 4 percent after a disappointing trade message. The All Ordinaries in Sydney closed 0.2 percent in the plus, led by the Australian miners.


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