August 21, 2024 at 02:17 am EDT
(MT Newswires) -- Japanese shares slid on Wednesday as the stronger yen dampened investor sentiment and raised earnings concerns.
The Nikkei 225 fell 0.29%, or 111.12 points, to end at 37,951.80.
The yen steadied around 145 to the dollar after Tuesday's rally. Investors are cautious ahead of Friday's speeches by Bank of Japan Governor Kazuo Ueda and Federal Reserve Chair Jerome Powell.
Ueda's remarks are expected to clarify the BOJ's rate-hike path following dovish signals from Deputy Governor Shinichi Uchida. Adding to the uncertainty, Prime Minister Fumio Kishida announced he will not seek reelection as LDP president in September.
July's provisional trade data showed a widening deficit. Imports surged 16.6% to 10.241 trillion yen, while exports rose 10.3% to 9.619 trillion yen, resulting in a deficit of 621.84 billion yen, up from 61.33 billion yen a year earlier.
In corporate news, Computer Institute of Japan (TYO:4826) reported a 17% drop in attributable profit to 948 million yen for the fiscal year ended June 30. EPS fell to 16.35 yen, while net sales increased 12.6% to 25.7 billion yen.
Taki Chemical (TYO:4025) saw a 65% rise in attributable profit to 1.01 billion yen for the six months ended June 30. EPS jumped to 119.80 yen, with net sales growing 11.2% to 19.52 billion yen.
Fujikura Composites (TYO:5121) posted a 22.9% increase in attributable profit to 1.08 billion yen for the quarter ended June 30. EPS rose to 51.55 yen, with net sales up 1.4% to 9.44 billion yen.
Sumber : MT Newswires
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