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Tokyo stocks opened lower on Wednesday tracking falls on Wall Street after US President Donald Trump called off talks on a new stimulus plan until after the election. The benchmark Nikkei 225 index was down 0.59 percent or 138.53 points to 23,295.20 in early trade, while the broader Topix index declined 0.62 percent or 10.16 points to 1,635.59. "Japanese shares are seen declining due to falls in US shares" as investors reacted to Trump's tweet, which undid optimism over additional US stimulus, said Toshiyuki Kanayama, senior market analyst at Monex. The dollar fetched 105.64 yen in early Asian trade, against 105.60 yen in New York late Tuesday. US House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin had resumed talks on a follow-up measure to the $2.2 trillion CARES Act passed to blunt the coronavirus downturn. But Trump accused the Democratic House leader of negotiating in bad faith, and said he'd asked Senate Majority Leader Mitch McConnell to instead focus on confirming his choice for an opening on the Supreme Court. "Nancy Pelosi is asking for $2.4 Trillion Dollars to bailout poorly run, high crime, Democrat States, money that is in no way related to COVID-19," Trump tweeted, citing an incorrect figure for the Democrats' latest proposal. "We made a very generous offer of $1.6 Trillion Dollars and, as usual, she is not negotiating in good faith. I am rejecting their request, and looking to the future of our Country." Trump's tweet sucked the enthusiasm from Wall Street traders who had been hoping for another injection of congressional cash, sending the Dow down 1.3 percent at the close. In Tokyo, Sony was down 0.55 percent at 7,785 yen, Canon was down 2.00 percent at 1,737.5 yen, and Hitachi was down 1.17 percent at 3,643 yen. Toyota was off 0.33 percent at 6,935 yen and Panasonic was down 1.34 percent at 896.6 yen after the companies announced plans to boost production of batteries for hybrid vehicles late Tuesday. kh/sah/hg
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2020-10-07
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United States Secretary of the TreasuryPanasonicSteven MnuchinHigh CrimeHitachiHybrid electric vehicleSonyToyotaParty leaders of the United States SenateMitch McConnellUnited States dollarSpeaker of the United States House of RepresentativesJapanSupreme Court of the United StatesRace and ethnicity in the United States CensusNancy PelosiNew York CityCoronavirusPresident of the United StatesDonald TrumpCoronavirus disease 2019Emergency Economic Stabilization Act of 2008Gero, GifuJapanese yenNikkei 225Tokyo Stock Exchange

