apan’s Nikkei 225 finished 1.5% lower at 9978.64, ending below the psychologically-crucial 10000-point level for the first time since late July. While the yen’s recent strength hurt exporters, the broad market was pressured by the outcome of the tankan survey.
Although the survey showed sentiment among Japan’s large manufacturers was improving, their capital expenditure plans for this fiscal year were weaker than the previous survey, which was a slight negative for the stock market, said Yumi Nishimura, market analyst at Daiwa Securities SMBC.
“We knew that companies would not increase capital spending any time soon, but the results suggest that poor spending may drag on,” she said.
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Alfonso Esparza