Japanese Stocks Slip as Tech Shares, Fast Retailing Retreat

Japan’s Nikkei slipped on Wednesday, as technology shares were hit by a slide in U.S. chip makers and sluggish sales weighed on index heavyweight Fast Retailing.

The Nikkei share average was down 0.55 percent at 21,665.48. The broader Topix was 0.27 percent lower at 1,688.17.

High-tech stocks tracked Wall Street peers. Tokyo Electron dropped 4.4 percent, Advantest Corp shed 4.8 percent, SUMCO Corp fell 5.05 percent and Screen Holdings lost 4.55 percent.

On Tuesday, the tech-heavy Nasdaq slid 0.86 percent, with chipmakers sliding after Micron Technology Inc sank when a Chinese court temporarily barred it from selling 26 chip products in the mainland. Micron said it had not yet received such an injunction, but its shares lost 5.5 percent on Tuesday.

Source : Reuters

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Japanese Stocks Fall as Investors Weigh Ongoing Trade Concerns

Japanese stocks declined as investors weighed ongoing concern over global trade tensions that could slow economic growth.

Topix -0.3% at 1,725.86 as of midday break in Tokyo. Nikkei 225 -0.2% at 22,270.76. Retail and food shares were the biggest drags on the Topix. From this Friday, the U.S. and China are set to begin charging higher tariffs on each other’s goods, marking a major escalation of their ongoing trade conflict. President Donald Trump has said he expects the administration’s trade investigation on cars to be completed in three to four weeks. The Bank of Japan’s Tankansurvey showed that confidence among large manufacturers slipped during the second quarter as trade tensions cast a shadow over exports.

Source : Bloomberg

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Japanese Shares Fall as Yen Gains on Trump’s New Tariff Threat

Japanese shares fell as the yen strengthened after U.S. President Donald Trump threatened to slap tariffs on another $ 200 billion in Chinese imports.

Chemical companies and retailers dragged down the benchmark Topix gauge. S&P 500 futures dipped in early trading in Tokyo, while the Japanese currency gained for a second day against the dollar. Trump said he has directed the U.S. Trade Representative to identify more Chinese imports for additional tariffs at a rate of 10 percent. This is in response to China’s decision to raise tariffs on U.S. exports, Trump said.

Topix index -0.4% to 1,764.97 as of 9:23 a.m. in Tokyo. Nikkei 225 -0.5% to 22,569.30. Yen +0.4% at 110.14 versus dollar.

Source: Bloomberg

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