Japan Stocks end mixed

Headline indices of the Japan share market closed mixed after fluctuated between gains and losses in the tight range on Thursday, 26 July 2018. Investors elected to book gains made in recent sessions on prospects the Bank of Japan will cut its buying in the exchange traded funds (ETFs) linked to the index. However, comfort from gains on Wall Street overnight after U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed to work toward eliminating trade barriers on industrial goods capped overall loses. The benchmark Nikkei 225 index fell 0.11%, or 25.85 points, to 22,588.40. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, rose 0.7%, or 12.40 points, to 1,765.88.

Investors took heart from news that U.S. President Donald Trump and European Commission President Jean-Claude Juncker agreed to work toward eliminating trade barriers on industrial goods. In a news conference following a meeting between the two leaders on Wednesday, Trump said he and Juncker had agreed to work to lower industrial tariffs on both sides and to increase European imports of liquefied natural gas and soybeans from the United States, among other measures.

 

Eisai shares plummeted after news that the U.S. FDA said more testing is needed for a midstage Alzheimer's drug trial it is conducting with Biogen

Advantest jumped as much as 9% as the maker of chip-making machines reported profit in April-June was more than seven times the year-earlier level.

Shin-etsu Chemical rose on solid earnings. It posted 28.7% growth in its operating profits in April-June.

CURRENCY NEWS: The Japanese yen depreciated against U.S. dollar on Thursday, after the US and EU agreed steps to resolve trade tensions. The dollar was quoted at 110.87-88 yen compared with 110.92-111.02 yen in New York overnight and 111.25-27 yen in Tokyo on Wednesday.

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