Japanese share slips, as tax talk rattles Wall Street

Published: October 31, 2017 11:19:20 | Updated: November 02, 2017 10:32:37


File Photo (Reuters)

Japan’s Nikkei share average slipped on Tuesday, taking its cue from losses on Wall Street after a report that US lawmakers are discussing more gradual corporate tax cuts rather than reducing it more aggressively.

The Nikkei was down 0.4 per cent at 21,933.52 at the end of morning trading. On Monday, the Nikkei ended flat after hitting a 21-year intraday high.

The dollar was down 0.1 per cent against the yen at 113.10, reports Reuters.

Shares of Nintendo jumped 4.3 per cent, a day after the Japanese videogames maker almost doubled its full-year operating profit forecast as supply shortages for its new Switch games console began to ease.

Fujitsu Ltd gained 1.7 per cent after Nikkei reported that the company and China’s Lenovo Group are expected to announce a final agreement to integrate their personal computer operations as soon as this week.

Softbank Group Corp tumbled 4.9 per cent after sources said it reached an impasse with Deutsche Telekom AG in their talks to merge Sprint Corp and T-Mobile US Inc.

The broader Topix fell 0.4 per cent to 1,763.64 and the JPX-Nikkei Index 400 fell 0.5 per cent to 15,599.79.

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