Skip to main content

Tokyo stocks close lower as US-China trade row weighs

TOKYO: Tokyo stocks closed lower on Monday as investors locked in profits amid fresh concerns about the US-China trade row.

The benchmark Nikkei 225 index lost 0.56 percent or 123.06 points to 21,755.84 while the broader Topix index ended down 1.03 percent or 16.45 points at 1,587.80.

“Profit-taking led trade with sentiment weighed down by uncertainty over the US-China trade row,” said Yoshihiro Ito, chief strategist at Okasan Online Securities.

Wall Street closed lower on Friday after reports that US President Donald Trump is mulling severe new restrictions on investment in China.

The US and China have been locked in a bruising trade war for more than a year, with the world´s two biggest economies imposing tariffs on hundreds of billions of dollars in bilateral trade.

Despite ongoing trade pressure with the US, China´s manufacturing sector showed unexpected signs of improvement with two indexes showing Monday that manufacturing activity edged up in September.

Later this week, market participants were awaiting key events and data, including the Bank of Japan´s Tankan quarterly business confidence survey on Tuesday, a sales tax hike also on Tuesday, and US jobs data on Friday, analysts said.

Negative impact on domestic demand because of the tax hike “will likely be smaller than the previous tax hike” in 2014, said Mitsuhiro Shibuya, senior strategist at Daiwa Securities.

In individual share trading, IT investor SoftBank Group fell 2.61 percent to 4,240 yen.

Automakers were also losers, with Toyota closing down 2.07 percent at 7,216 yen, Honda down 1.46 percent at 2,798.5 yen and Nissan off 1.72 percent at 674.1 yen.

The dollar was trading at 107.85 yen against 107.95 yen in New York on Friday.

The post Tokyo stocks close lower as US-China trade row weighs appeared first on ARYNEWS.

Comments

Popular posts from this blog

K-Electric fined Rs2 mn over weak power supply system

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Wednesday imposed a fine of Rs2 million on the K-Electric. According to a statement issued by the power regulatory authority, the K-Electric was penalized over non-compliance of performance standards, particularly its failure to restore power supply within the prescribed time frame and to ensure the safety of public in Karachi. Quoting media reports, it said large swathes of Karachi remained without electricity due to the tripping of almost 700 feeders during rainy weather in June last year, which resulted in long power blackouts ranging from 24 hours to 48 hours in almost 50% areas of Karachi. Further, there were also reports of fatal injuries to some people owing to electrocution. The Nepra took notice of the situation in Karachi and directed the K-Electric to immediately provide a detailed report on the tripping of feeders and electrocution incidents along with preventive and corrective steps taken by K-Elec...

10 creepy celebrity wax statues

Waxworks of celebrities, sports persons and politicians such as Tom Cruise, Barack Obama and Christiano Ronaldo are admired by people all over the world. The craft requires taking careful and accurate measurements to create these wax statues, which are then polished and perfected to make for an exact replica. Madame Tussaud’s is one of the most famous museums in the world that displays wax statues, however, not all wax museums in the world craft flawless statues. Compiled from Cosmopolitan India , here is a list of the creepiest celebrity wax statues. Barack Obama PHOTO: COSMOPOLITAN David and Victoria Beckham PHOTO: COSMOPOLITAN Jennifer Aniston PHOTO: COSMOPOLITAN Beyonce’s wax statue sparks outrage Jennifer Lopez PHOTO: COSMOPOLITAN Justin Bieber PHOTO: COSMOPOLITAN Justin Timberlake PHOTO: COSMOPOLITAN Aamir Khan PHOTO: COSMOPOLITAN Katrina Kaif PHOTO: COSMOPOLITAN London’s Tussauds gets to work on Trump wax figure Selena Gomez PHOTO: C...

Accountability court hears assets case against Ishaq Dar

ISLAMABAD: An accountability court in Islamabad on Wednesday resumed the hearing of a reference filed against former finance minister Ishaq Dar by the National Accountability Bureau (NAB) for allegedly accumulating assets beyond his known sources of income.  Judge Muhammad Bashir is recording the statement of a prosecution witness, Ishtiaq Ahmed. At the previous hearing, the accountability judge had reserved his verdict on an application filed by two co-accused seeking acquittal in the case. Naeem Mehmood and Mansoor Rizvi, who are directors of Dar’s companies, had filed the application requesting the judge to exonerate them from all charges for want of evidence. Qazi Misbah, the counsel for the two co-accused, contended the prosecution has failed to provide compelling evidence to prove the allegations leveled against his clients. The third co-accused President National Bank of Pakistan (NBP), Saeed Ahmed, had already filed an application before the court for his acquittal wh...