RTTNews - Japan stocks are expected to open lower on Wednesday, coming off the sharp losses overnight on Wall Street. U.S. stocks were led lower by the banking sector, despite better than expected data on manufacturing.
japan's market posted a modest gain on Tuesday.
The benchmark Nikkei 225 Average closed with a gain of 37.53 points or 0.36 percent at 10,530.06.
Among the Nikkei component stocks, there were 124 closing higher, 84 were lower and 17 finished unchanged.
The broader Topix index was up 3.04 points or 0.3 percent at 968.77.
Among the stocks and sectors of interest, chip maker NEC Electronics was up 11 percent while semiconductor maker Sumco Corp rose 190 yen or 10 percent and Toshiba was up 13 yen or 2.72 percent.
A report from the Japan Auto Dealers Association said domestic car sales rose 2.3 percent last month. That pushed many of the auto makers higher. Honda was up 35 yen or 1.19 percent, Subaru maker Fuji Heavy was up 11 yen or 2.74 percent, Mazda was unchanged, Mitsubishi Motor was up 1 yen or 0.59 percent and Toyota was up 30 yen or 0.75 percent.
The shipping sector was weaker, with Mitsui OSK Lines down 12 yen or 2.02 percent, Kawasaki Kisen Kaisha was down 6 yen or 1.47 percent and Nippon Yusen was flat.
In overseas trading, U.S. stocks moved sharply lower on Tuesday, as new worries about the health of the banking sector sent traders into selling mode.
At the closing bell, the Dow Jones Industrial Average was down 185.68 points or 1.96 percent at 9,310.60, the Nasdaq Composite Index was lower by 40.17 points or 2.00 percent at 1,968.89 and the Standard & Poor's 500 index was down 22.58 points or 2.21 percent at 998.04.
Markets around the Asia/Pacific region were mixed on Tuesday.
Hong Kong's Hang Seng index was up 148.11 points or 0.75 percent at 19,872.30.
In China, the Shanghai Composite index advanced 15.98 points or 0.60 percent at 2.683.72.
The BSE 30 index in India was down 115.45 points or 0.74 percent at 15,551.19.
In Indonesia, the Jakarta Composite index was down 14.62 points or 0.62 percent at 2.326.91.
South Korea's KOSPI/Seoul Composite index was up 31.21 points or 1.96 percent at 1,623.06.
The Taiwan Weighted Index was up 193.80 points or 2.84 percent at 7,019.75.
In economic data news, the Bank of Japan will announce August figures for its monetary base, which was up 6.1 percent on year in the previous month.
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