Nikkei steady as tariff concerns offset gains

Japan’s Nikkei index closed flat today after concerns over the upper house election and the fate of trade talks with the United States offset gains in chip-related stocks.

The Nikkei index fell 0.04% to 39,663.4, while the broader Topix index fell 0.21% to 2,819.4.

“Investors have reason to hold back on buying or selling stocks,” said Shigetoshi Kamada, general manager of research at Tachibana Securities, according to Reuters.

He added, “They are cautiously awaiting the outcome of the upper house election, while the outlook for trade talks remains uncertain despite the approaching deadline.”