Friday, October 4, 2013
Nikkei Trims Losses As Concerns Over U.S. Budget Ease
TOKYO (NQN)--Tokyo stocks are trimming their losses midway through the afternoon session Friday, with the Nikkei Stock Average trading in the lower-14,100 range.
The benchmark index's losses briefly shrank to about 8 points.
Stocks began holding firm following reports that U.S. President Barack Obama cancelled all of his trips to Southeast Asia scheduled from Saturday. Concerns about the outlook for the U.S. interim budget formation are easing on the view that Obama has made resolving the government shutdown his top priority.
Bank of Japan Gov. Haruhiko Kuroda is expected to hold a news conference this evening, and market players are speculating that the central bank will inject more funds into the market.