November 14, 2024 at 01:49 am EST
(MT Newswires) -- Japanese shares declined Thursday as investors showed little enthusiasm for Beijing's latest tax incentives intended to support its slowing economy.
The Nikkei 225 closed down 0.48%, shedding 185.96 points to finish at 38,535.70.
China, aiming to revive its struggling property sector, unveiled fresh tax incentives on Wednesday.
The finance ministry stated that, starting Dec. 1, apartments up to 140 square meters will now qualify for a 1% deed tax, raising the eligibility threshold from 90 square meters.
In corporate news, Nxera Pharma (TYO:4565) secured a $3.5 million milestone payment from Centessa Pharmaceuticals after launching a Phase 2 trial for ORX750, a treatment for narcolepsy co-developed with Medicxi. The revenue is expected in Q4 FY24.
Otsuka Pharmaceutical Factory (TYO:4578) partnered with ICU Medical in a joint venture, with Otsuka's US unit holding a 60% stake.
Monex Group's (TYO:8698) subsidiary Coincheck B.V. received US regulatory approval for a Nasdaq listing. The cryptocurrency platform plans to list under the ticker CNCK by Dec. 10 following a merger with SPAC Thunder Bridge Capital Partners IV.

Sumber : MT Newswires