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Nikkei 225 Trades Flat Ahead of Earnings Season and National Elections

MT Newswires ·  {{timeTz}}

06:12 AM EDT, 10/27/2021 (MT Newswires) -- The Nikkei 225 opened evenly Wednesday on Wall Street cues, drifted but finished flat as traders awaited pending earnings reports from major corporations, as well as the results of the national general election slated for the end of the month.

The benchmark Nikkei 225 declined 7.77, or 0.03%, to 29,098.24, although losing issues outnumbered gainers 144 to 72.

Leading the upside on a choppy day were tapes and vinyl producer Nitto Denko (NDEKY, 6988:Tokyo), up 7.3%, followed by Hitachi Construction Machinery (HTCMY, 6305:Tokyo), up 7.1%, and then seasonings and spice maker Ajinomoto (AJINY, 2802:Tokyo), up 3.8%.

On the downside were electrical equipment maker Fujikura (5803:Tokyo), off 8.3%, and then Tokyo Electric Power (TKECF, 9501:Tokyo), off 6.2%.

In other news, the Japanese government downgraded its overall assessment of regional economies amid global chip storage and supply chain disruptions affecting the auto industry, Kyodo News reported.

In a report, the Finance Ministry said economic recovery in Japan's 11 regions is "moderating" partly due to supply constraints, changing from the previous view in which it said they are "recovering although weakness is seen in some sectors," according to the news outlet.

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