Tokyo shares open flat ahead of US-China trade talks

Tokyo shares opened flat on Wednesday as traders awaited the resumption of US-China trade talks. The Nikkei 225 index, which briefly went into positive territory at the
open, lost 0.13 percent, or 26.89 points, to 20,637.75 in early trade while the broader Topix index was up 0.03 percent, or 0.43 points, at 1,557.52. “Investors will be in a wait-and-see mode ahead of the Federal Reserve policy announcement, the US-China trade talks and financial results,” Yoshihiro Ito, chief strategist at Okasan Online Securities, said in a commentary. “The market is likely to lack a sense of direction.” On Wall Street, shares of large tech companies tumbled ahead of big earnings announcements from the sector. The tech-rich Nasdaq Composite Index finished 0.8 percent lower at 7,028.29.

The Dow Jones Industrial climbed 0.2 percent to 24,579.96, while the broad- based S&P 500 shed 0.2 percent to 2,640.00. In Tokyo share trading, Sony fell 0.99 percent to 5,296 yen while Toyota dipped 0.44 percent to 6,646 yen. Uniqlo chain operator Fast Retailing lost 0.73 percent to 50,210 yen. The dollar traded at 109.38 yen against 109.34 yen in New York and 109.29 yen in Tokyo Tuesday afternoon.