Stock movements
The Nikkei index fell 0.8 percent to 38,104.86 points at the close, and the broader Topix index fell 0.55 percent to 2,636.96 points.
The decline came at a time when the yen witnessed a decline today, Wednesday, exceeding the level of 152 against the dollar for the first time in nearly three months.
The fall of the yen helps strengthen the shares of companies that export their products because it increases the value of profits abroad in yen when companies prepare them at home Japan.
Seiichi Suzuki, chief stock market analyst at Tokai Tokyo Intelligence Laboratory, said: “With the weakening of the yen, investors may become more interested in local stocks… but they avoided taking any risks while awaiting the results of the general elections, and this in turn limited today’s gains.” This trend is expected to continue this week.”
Prime Minister Shigeru Ishiba dissolved the House of Representatives on October 9, making early elections scheduled for October 27.
Japanese stocks started the day with a slight rise, but lost momentum during the session and turned to decline.
But Tokyo Metro bucked the general trend and its shares rose 44 percent on the first day of trading on the market on Wednesday, closing at 1,739 yen ($11.42).
The company raised $2.3 billion in the largest initial public offering in history Japan In six years with promises of generous cash dividends.
As for stocks listed on the Topix index, one stock rose Toyota Motor rose about three percent, becoming the strongest performer, while Honda Motor shares rose 2.2 percent.
Shares of automobile manufacturing companies jumped 2.13 percent, achieving the best performance among the shares of the 33 sub-sectors in… Tokyo Stock Exchange.
Among the heavyweight companies on the Nikkei index, recruitment agency Recruit Holdings fell 4.93 percent, and shares of Fast Retailing, which owns the Uniqlo clothing brand, fell 1.67 percent.
The shares of Nitori Holding for Home Interior Decorations, whose share prices are affected by the weakness of the yen because it imports most of the materials needed for its products from abroad, fell 2.81 percent.
