Tokyo stocks end mixed on hopes US-China trade tensions ease
TOKYO (Kyodo) -- Tokyo stocks ended mixed Wednesday, with buying supported by hopes trade tensions between the United States and China ease, while investors awaited the outcome of a two-day U.S. Federal Reserve policy meeting.
The 225-issue Nikkei Stock Average ended down 51.03 points, or 0.14 percent, from Friday at 36,779.66, snapping a seven-day winning streak. The broader Topix index finished 8.38 points, or 0.31 percent, higher at 2,696.16.
Japanese markets were closed Monday and Tuesday for national holidays. The U.S. central bank's latest policy meeting kicked off Tuesday in Washington, with its decision scheduled for release on Wednesday.
On the top-tier Prime Market, gainers were led by air transportation and wholesale trade issues, while pharmaceutical and transportation equipment shares declined.
The U.S. dollar briefly strengthened to the lower 143 yen range in Tokyo, as the yen, seen as a safe-haven asset, was sold after U.S. Treasury Secretary Scott Bessent said the United States and China will hold talks soon over trade tensions.
In the stock market, sentiment was lifted by expectations of possible trade negotiations between the world's two largest economies following President Donald Trump's imposition of hefty import tariffs, brokers said.
"During Trump's first term, stocks were pressured by the U.S.-China trade conflict but later rebounded after negotiations began and progressed," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co.
"I believe the market will basically respond similarly to how it did back then," he added.
Drug-related shares notably weakened after Trump said Monday that he plans to announce tariffs aimed at reviving the U.S. pharmaceutical sector within the next two weeks.
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