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MarketScreener Homepage  >  Indexes  >  Nikkei 225    N225   JP9010C00002

NIKKEI 225

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Japanese shares slip on concerns of longer trade war

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12/03/2019 | 10:23pm EST
FILE PHOTO: A woman points to an electronic board showing stock prices as she poses in front of the board after the New Year opening ceremony at the Tokyo Stock Exchange (TSE), held to wish for the success of Japan's stock market, in Tokyo

Japan's Nikkei share average fell to its lowest level in about two weeks on Wednesday as hopes for a quick initial U.S.-China deal dimmed following U.S. President Donald Trump's remarks, while a stronger yen dented appetite in the country's exporters.

The Nikkei 225 index <.N225> slid 1.24% to 23,089.21 and fell below its 25-day moving average of 23,253, a key technical support.

"In some ways, I like the idea of waiting until after the election for the China deal. But they want to make a deal now, and we'll see whether or not the deal's going to be right; it's got to be right," Trump told reporters in London on Tuesday, where he was due to attend a meeting of NATO leaders.

The yen has strengthened over 1% in the past 48 hours.

As a result, shares of exporters such as electronic parts maker Murata Manufacturing fell 2.4%, industrial robot manufacturer Fanuc dropped 1.6% and Honda Motor shed 1.1%.

Among other shares, Astellas Pharma fell 2.6%, extending their decline after it announced the acquisition of U.S. drugmaker Audentes Therapeutics Inc for a 110% premium.

Fast Retailing dropped 4.9% after the operator of the Uniqlo casual clothing chain reported weak domestic sales in November. The drop was enough to chop 110 points, or 0.5 percentage point, off the Nikkei.

The broader Topix lost 0.55% to 1,697.37, a shade better performance than the others in the region. Most major indexes lost over 1%.

About 31% of all the listed shares on the Tokyo Exchange's main board rose, led mainly by domestic-oriented shares.

Investors usually shift money to such sectors when there are concerns around global growth.

Toiletry goods maker Kao Corp rose 0.5%, while many utility companies also gained, including Tokyo Electric Power, Chubu Electric Power and Osaka Gas, which rose 2.3%, 1.2% and 0.8% respectively.

(Reporting by Tokyo Markets Team; editing by Uttaresh.V)

Stocks mentioned in the article
ChangeLast1st jan.
ASTELLAS PHARMA INC. 1.32% 1916.5 End-of-day quote.3.51%
AUDENTES THERAPEUTICS, INC. -0.02% 59.97 Delayed Quote.0.22%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) 0.01% 74.63 Delayed Quote.-1.58%
BRITISH POUND / JAPANESE YEN (GBP/JPY) 0.01% 142.95 Delayed Quote.-0.28%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.00% 83.134 Delayed Quote.-0.25%
CHUBU ELECTRIC POWER COMPANY, INCORPORATED -0.17% 1452.5 End-of-day quote.-4.57%
EURO / JAPANESE YEN (EUR/JPY) 0.01% 120.5 Delayed Quote.-0.58%
FANUC CORPORATION -0.22% 20435 End-of-day quote.2.02%
FAST RETAILING CO., LTD. -0.34% 61970 End-of-day quote.-2.85%
HONDA MOTOR CO., LTD. -1.55% 2960.5 End-of-day quote.-3.47%
JAPANESE YEN / SWISS FRANC (JPY/CHF) 0.11% 0.8887 Delayed Quote.-0.67%
KAO CORPORATION -0.55% 9103 End-of-day quote.2.57%
MURATA MANUFACTURING CO., LTD. 1.58% 6752 End-of-day quote.1.55%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) 0.04% 72.23 Delayed Quote.-0.75%
NIKKEI 225 0.13% 23827.18 Real-time Quote.0.59%
OSAKA GAS CO., LTD. -0.10% 1938 End-of-day quote.-6.24%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INCORPORATED -0.47% 428 End-of-day quote.-7.36%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.00% 109.3 Delayed Quote.0.81%
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