Japanese stocks fell on Tuesday morning but rebounded amid some volatility as the first U.S. presidential debate comes to an end.
The U.S. dollar also rose and reversed earlier losses to post gains versus the yen, indicating that markets perceive Clinton as the winner of the debate. Traders report that there is elevated uncertainty due to the U.S. presidential elections, that could affect Japanese shares if the dollar weakens against the yen.
The Nikkei slipped 0.3% at 16, 490.41 in midday trading, bouncing back from an earlier low of 16, 285.41, its weakest level since August 5. Financial stocks closed lower while mining stocks outperformed after crude futures jumped by 3% overnight, before sinking in Asian trade.
The Topix lost 0.5% down to 1, 329.34 while the JPX-Nikkei Index 400 fell by 0.6% to 11, 910.14.
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