Japan stocks edge up, weaker yen offsets Fed disappointment [Reuters]
Toyota Motor Corporation (TM)
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Source: Reuters
Japan stocks edge up, weaker yen offsets Fed disappointment - Reuters 2 Min Read * Nikkei rises 0.09%, Topix adds 0.14% * Stocks recoup earlier losses as yen weakens to 2-mth low By Shinichi Saoshiro TOKYO, Aug 1 (Reuters) - Japan’s Nikkei share average recouped early losses and ended marginally higher on Thursday, supported by a weaker yen which helped offset disappointment that the U.S. Federal Reserve is not embarking on a lengthy easing cycle. The Fed on Wednesday lowered rates for the first time since 2008, as widely expected, but Chairman Jerome Powell said the move was not the start of a long series of rate cuts, sending U.S. share markets lower. The Nikkei ended the day up 0.09% at 21,540.99 points. The index initially fell as much as 1% but clawed back ground as the yen slid to a two-month low against the dollar after the Fed proved less dovish than anticipated. “Prior to the FOMC (Federal Open Market Committee) meeting, the chief concern was that while a rate cut was expecte
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