Japan shares end flat as economic uncertainty around U.S. stimulus weighs

  • Reuters
  • Stock Market News
Japan shares end flat as economic uncertainty around U.S. stimulus weighs
Credit: © Reuters.

TOKYO, Oct 7 (Reuters) - Japanese shares ended little changed on Wednesday, as fears of a slower economic recovery from the coronavirus crisis resurfaced after U.S. President Donald Trump halted talks for an additional stimulus package until after the election.

The benchmark Nikkei share average .N225 was little changed at 23,422.82 at the close, while the broader Topix .TOPX was almost flat at 1,646.47.

Nearly a third of 33 sector sub-indexes on the Tokyo exchange traded lower, with pharmaceuticals .IPHAM.T , fisheries and forestry .IFISH.T and foods .IFOOD.T leading the decliners on the main bourse.

Prospects for additional U.S. coronavirus bill crumbled after Trump announced on Twitter that he was calling off negotiations with Democratic lawmakers on coronavirus relief legislation until after the election. weighing on the market was the uncertainty of Trump's health, with the U.S. presidential election just less than a month away.

"In some part, I think President Trump is forcing himself too hard since he has left the hospital in a short period of time," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

"It would be crucial to be cautious of how his health progresses from now on."

Boeing-related shares Mitsubishi Heavy Industries 7011.T fell 0.74%, while Kawasaki Heavy Industries 7012.T was down 0.14%, in line with their U.S. peers as Boeing (NYSE: BA ) Co BA.N cut its rolling 20-year forecast for airplane demand on the coronavirus crisis. Honsha Co 2267.T slipped 7.12% after French food group Danone DANO.PA said it would sell its remaining 500 million euro ($586.60 million) stake in the Japanese probiotic yogurt maker. Nippon Telegraph and Telephone Corp 9432.T jumped 3.31% and Fanuc 6954.T inched up 0.1%, while Fujitsu 6702.T lost 0.53% after the three firms said they would set up cloud service joint venture for manufacturing companies. Mothers Index .MTHR of start-up firms climbed more than 2%. ($1 = 0.8524 euros)

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