Nikkei little change as yen rises after Trump rate comment; U.S.-China talks eyed

Japan’s Nikkei litte changed on Tuesday morning as a stronger yen hurt risk sentiment, with cyclical stocks such as shippers, machinery stocks and automakers losing ground.

The Nikkei share average little changed at 22,192.45 at morning close. The broader Topix shed 0.3 percent to 1,687.87.

Declining issues outnumbered advancers 1,519 to 492.

The dollar dropped 0.18 percent to 109.87 yen, after falling below the psychologically-significant 110 yen level for the first time since June 28 after U.S. President Donald Trump criticized the Federal Reserve for raising interest rates.

Analysts said that the Japanese market is expecting thin summer trade again on Tuesday after Topix’s volume and turnover hit the lowest since early April on Monday.

Against a backdrop of global trade disputes, Trump said in an interview with Reuters on Monday that China was manipulating the yuan.

Tuesday’s notable losers include shippers, with Mitsui OSK Lines falling 1 percent and Kawasaki Kisen shedding 0.9 percent.

Electronics shares also lost ground, with Panasonic declining 2.0 percent, Alps Electric falling 2.7 percent and Taiyo Yuden declining 2.1 percent.

Subaru Corp dropped 0.9 percent and Mazda Motor shed 0.7 percent.

Source: Reuters

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U.S. stocks open little changed as investors focus on earnings, data

U.S. stock-market indexes opened nearly unchanged on Monday as investors focused on upbeat earnings from Caterpillar Inc and awaited economic releases.

The S&P 500 was up less than a point to 2,818. The Dow Jones Industrial Average opened 15 points, or 0.1%, higher to 25,464. The Nasdaq Composite Index declined 10 points, or, 0.1%, to 7,826 at the open.

Among the biggest gainers on the Dow, shares of Caterpillar Inc. rallied more than 2% after the company’s profits came in above expectations.

Source: Marketwatch

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European stocks close little changed as Italy woes linger

European stocks closed little changed Wednesday, with trade greatly impacted by concerns over fiscal spending in Italy.

The pan-European Stoxx 600 closed little changed at 386.880 with sectors and major bourses mixed.

Italy’s FTSE MIB, which was under pressure Tuesday, recovered on Wednesday, rising 0.26 percent. New Italian Prime Minister Giuseppe Conte presented his coalition’s plans to crackdown on immigration and up welfare spending while cutting taxes on Tuesday.

In stocks news, the media company Schibsted was up by 4.5 percent after a rating upgrade. And WH Smith rose to the top of the index, with shares up by almost 7.5 percent after reporting a 4 percent increase in sales in the 13-weeks to June 2. Growth in its travel business helped to offset a decline in high-street sales.

Overall market sentiment was influenced by politics but also comments from central bankers.

Source: Reuters

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