RTTNews - Tokyo stocks are expected to rebound higher at Thursday's open, following Wall Street's triple digit gains. U.S. stocks rose as the Federal Reserve left interest rates unchanged and said the economy is showing signs of stabilization.
Japan stocks moved broadly lower on Wednesday, as a strengthening yen hurt prospects for exporters.
The benchmark Nikkei 225 Average posted a loss of 150.46 points or 1.42 percent at close at 10,435.00.
Among the Nikkei component stocks, there were 28 finishing higher, 190 were lower and 7 were unchanged.
The broader Topix index was down 13.64 points or 1.4 percent at 959.87.
The yen moved as high as 95.34 to the U.S. dollar.
The auto makers were weaker on the day, with Honda down 130 yen or 4.10 percent, Subaru maker Fuji Heavy was down 6 yen or 1.41 percent, Mazda Motor was down 6 yen or 2.29 percent, Isuzu Motors was down 9 yen or 4.86 percent, Hino Motors fell 19 yen or 5.16 percent, Mitsubishi Motor was down 3 yen or 1.76 percent and Toyota was down 100 yen or 2.42 percent.
For the big trading companies, Mitsubishi Corp was down 51 yen or 2.58 percent while rival Mitsui & Co was down 39 yen or 3.0 percent.
The real estate sector was higher, with Tokyo Land Corp up 10 yen or 2.57 percent and Sumitomo Realty up 26 yen or 1.30 percent. Mitsubishi Estate was up 2 yen or 0.13 percent.
For the telecoms, Nippon Telegraph & Telephone was unchanged, Softbank was down 30 yen or 1.44 percent, NTT DoCoMo was i[ 100 yen or 0.07 percent and KDDI was up 1,000 yen or 0.19 percent.
Among the other heavily traded stocks, Toshiba Corp was down 4 yen or 0.87 percent, Sumitomo Metals was down 4 yen or 1.59 percent, Sanyo Electric was down 4 yen or 1.72 percent, Normura Holdings was down 13 yen or 1.56 percent, Battery maker GS Yuasa was down 16 yen or 1.75 percent, Mizuho Financial was down 3 yen or 1.26 percent and NEC was down 15 yen or 4.36 percent.
Overseas, U.S. traders reacted positively to the latest statement from the Federal Reserve. The Fed left interest rates unchanged, but signaled that the economy was stabilizing, and said it planned to end one of its quantitative easing programs in October.
At closing bell on Wall Street, the Dow Jones Industrial Average was up by 120.16 points or 1.30 percent at 9,361.612, the Nasdaq Composite Index was ahead by 28.99 points or 1.47 percent at 1,998.72 and the Standard & Poor's 500 index was up 11.46 points or 1.15 percent at 1,005.81.
Other major markets around the Asia/Pacific region finished lower on Wednesday.
The Hang Seng index in Hong Kong was down 638.97 points or 3.03 percent at 20,435.25.
In China, the Shanghai Composite index was down 152.01 points or 4.66 percent at 3,112.72.
India's BSE 30 index dropped 54.43 points or 0.36 percent to 15,020.16.
The Jakarta Composite index in Indonesia was down 51.92 points or 2.16 percent at 2.347.36.
The KOSPI/Seoul Composite index in South Korea declined 13.86 points or 0.88 percent to 1,565.35.
The Taiwan Weighted Index fell 10.12 points or 0.15 percent to 6,898.90.
On Thursday's economic data docket, the Real Estate Economic Institute of Japan is scheduled to release July numbers for Tokyo condominium sales.
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