At closing bell, the 225-issue Nikkei Stock Average declined 229.99 points, or 1%, to 22,880.62. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 14.53 points, or 0.9%, at 1,599.20.
Total 30 issues of the 33 industry category of Topix index ended into red territory, with Electric Appliances, Real Estate, Metal Products, Transportation Equipment, Precision Instruments, and Textiles & Apparels issues being notable losers, while Air Transportation and Iron & Steel issues were notable gainers.
The minutes of the Federal Reserve's monetary policy meeting in July released on Wednesday. The minutes noted that the coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The Fed added that economic activity and employment have picked up somewhat in recent months but remain well below their levels at the beginning of the year. The Federal Reserve warned the economic recovery of the U.S. from the coronavirus-induced downturn faced a highly uncertain path. The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term, the Fed said.
CURRENCY: The Japanese yen traded at 105.99 per dollar following a weakening yesterday from levels below 105.6 against the greenback.
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