The Japanese stock market saw minimal losses on Wednesday, following suit with Wall Street's overnight shortcomings. The slight dip in the Nikkei 225, just above the 40,000 mark, stems from traders securing profits after recent market strength led to record highs.
The Nikkei 225 Index saw a 0.22 percent decrease, sitting at 40,010.31, following a lower close on Tuesday.
Notable companies in the market such as SoftBank Group and Uniqlo operator Fast Retailing experienced losses over 1 percent. However, automakers like Honda and Toyota saw gains of more than 1 percent and 0.4 percent respectively.
The technology sector showed mixed results with Advantest and Screen Holdings observing small gains, while Tokyo Electron saw a slight decline. In the banking sphere, both Mizuho Financial and Sumitomo Mitsui Financial rose over one percent, with Mitsubishi UFJ Financial making minor gains.
Among leading exporters, Sony and Canon experienced slight declines, while Panasonic and Mitsubishi Electric showed gains. Major losses were observed by Renesas Electronics, Lasertec, TDK and Sumco. In contrast, companies like Kawasaki Heavy Industries, Aozora Bank and Tokyo Tatemono had significant growth.
Wednesday's currency market saw the U.S. dollar trading high in the 149 yen-range.
Wall Street also had its share of losses. The Nasdaq took the hardest hit with a plunge of 267.92 points or 1.7 percent to 15,939.59. The S&P 500 and Dow followed closely with significant declines.
In Europe, market performance was mixed. While the U.K.'s FTSE 100 Index slightly rose by 0.1 percent, the German DAX Index and the French CAC 40 Index saw modest declines.
Crude oil prices also trended downwards due to concerns about demand outlook, with West Texas Intermediate Crude oil futures for April closing down $0.59 at $78.15 a barrel.
