Japan stocks close higher, with Apple recouping some of its losses

UNITED STATES (OBSERVATORY NEWS) — Japanese stocks rose on Wednesday as sentiment improved slightly after Wall Street indices closed lower and Apple trimmed losses due to a sales warning despite the health crisis in China still present.

Investors are cautious as the Corona Virus epidemic could push the Japanese economy, hit by an October sales tax increase, into recession.

The Nikkei index closed at the Tokyo Stock Exchange, up 0.89 percent to 23400.70 points, while the broader Topix index recovered from the lowest closing level in four months, which reached on Tuesday to close 0.37 percent to 1671.86 points.

Semiconductor and electronic component makers, which led the drop on Tuesday after a warning from Apple, recouped some of their losses.

Shares of Murata Manufacturing, which supplied to Apple, rose 2.8 percent, topping the list of best-performing stocks on the main Topix 30 index, while Shin-Etsu Chemical gained 1.4 percent.

SOMCO, which announced the repurchase of shares, increased 4.1 percent, while Advantest also increased 4.1 percent.

Nippon Steel fell 3.6 percent to a 16 and a half year low.


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