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Nikkei 225 Off 1.5% on Global Economic Outlook, Wall Street Futures

MT Newswires ·  {{timeTz}}

06:17 AM EDT, 09/28/2022 (MT Newswires) -- The Nikkei 225 opened lower Wednesday and slumped in trading, finishing down 1.5% as traders weighed the outlook for sluggish global economic growth and tightening at major central banks.

Wall Street equity futures markets flashed red during Tokyo trading hours , undercutting sentiments.

The benchmark Nikkei 225 fell 397.89 to 26,173.98, as losing issues outnumbered gainers 206 to 19.

Leading the upside was Eisai (ESLAF, 4523:Tokyo), up 17.3% after the drugmaker reported a successful trial of its experimental Alzheimer's treatment. Shizuoka Bank (SZKBF, 8355:Tokyo), rose 5%, and Nippon Paper Industries (NIJPF, 3863:Tokyo), gained 3.2%.

On the downside were Nippon Sheet Glass (NPSGY, 5202:Tokyo), off 5.1%, and Mitsubishi Motors (MMTOF, 7211:Tokyo), off 4.9%.

In economic news, the Bank of Japan (BOJ) will likely maintain a generally accommodative posture, despite some concerns regarding the declining exchange rate of the yen, according to central bank board minutes from the July 20-21 policy meeting, released Wednesday.

Japan's banking system remains profitable, according to the minutes.

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