RTTNews - A mixed open is expected for Japan stocks on Wednesday, following a largely directionless session overnight on Wall Street. U.S. stocks closed mixed, with the tech-heavy Nasdaq index posting the session's strongest performance.
Japan stocks ended a two-session winning streak with a modest loss on Tuesday.
The broader Topix index was down 8.65 points or 0.9 percent at 918.24
The financial sector put in a weak performance, with Mitsubishi UFJ down 20 yen or 3.11 percent, Mizuho Financial was down 13 yen or 5.02 percent on very heavy volume of nearly 218 million shares, Mizuho Trust and Banking was down 4 yen or 2.42 percent, Sumitomo Mitsui fell 100 yen or 2.40 percent.
Among the telecoms, Nippon Telegraph & Telephone was up 10 yen or 0.27 percent, NTT DoCoMo was up 200 yen or 0.14 percent, NTT Data Corp rose 4,800 yen or 1.68 percent and Softbank was up 40 yen or 2.22 percent.
The major shippers were lower, with Mitsui OSK Lines down 15 yen or 2.24 percent, Nippon Yusen was down 10 yen or 2.24 percent and Kawasaki Kisen Kaisha falling 11 yen or 2.54 percent.
Elsewhere, Pioneer Corp jumped 34 yen or 12.73 percent on heavy volume, shares of Canon were down 10 yen or 0.30 percent and battery maker GS Yuasa was down 14 yen or 1.57 percent on heavy volume.
Overseas, news that 10 major U.S. banks had been approved to repay their TARP funding did little to move the market, wound up with a mixed close after a volatile trading session.
At the close, the Dow Jones Industrial Average was down 1.43 points or 0.02 percent at 8,763.06, the Nasdaq Composite index was up 17.73 points or 0.96 percent at 1,860.43 and the Standard & Poor's 500 index was higher by 3.23 points or 0.35 percent at 942.43.
Markets in the Asia/Pacific region closed mixed on Wednesday.
The Hang Seng index in Hong Kong declined 194.90 points or 1.07 percent to 18,958.49,
China's Shanghai Composite index gained 19.55 points or 0.71 percent to 2,787.89.
In India, the BSE 30 index advanced 461.08 points or 3.14 percent to 15,127.00.
South Korea's KOSPI/Seoul Composite index was down 21.46 points or 1.54 percent at 1,371.84.
The Taiwan Weighted Index fell 213.63 points or 3.22 percent to 6,414.39.
On the economic data docket for Wednesday, Japan is set to announce May numbers for its domestic corporate goods price index and April data for key machine orders.
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