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Business Recorder
3 days ago
- Automotive
- Business Recorder
Nikkei falls on worries about US-China trade tension, stronger yen
TOKYO: Japan's Nikkei share average fell on Monday, dragged lower by worries over trade tensions between the US and China, and a stronger yen, which hurt automakers. As of 0204 GMT, the Nikkei dropped 1.4% at 37,428.14 and the broader Topix slipped 1.02% to 2773. 'Investors were worried about rising uncertainties about trade issues,' said Shoichi Arisawa, general manager of investment research at IwaiCosmo Securities. 'Optimism over the tariff policy, which pushed the Nikkei over the psychologically important level of 38,000 last week, has vanished.' US President Donald Trump on Friday accused China of breaching a trade agreement with the US and issued a new veiled threat to get tougher with Beijing. Trump later said he would speak to China's President Xi Jinping and hopefully work out their differences on trade and tariffs. The yen strengthened on Monday, following the declines of US Treasury yields on Friday, which also weighed on Japanese stocks, said Arisawa. The yen rose 0.37% to 143.5 against the US dollar. A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese currency. 'One market-moving cue would be the G7 leaders' summit to be held in Canada later this month, where we may see the fate of trade talks between Japan and the US,' said Arisawa. Automakers fell, with Toyota Motor and Honda Motor down 2.49% and 2.11%, respectively. Chip-related shares fell, with Advantest and Tokyo Electron slipping 3.57% and 2%, respectively. All but three of the Tokyo Stock Exchange's 33 industry sub-indexes fell, with the auto sector and tyre makers losing 1.95% and 2.38%, respectively, to become the worst performers. Sumitomo Realty & Development was up 1.5%, after jumping as much as 7% as a government filing showed an activist Elliott International took a 2.99% stake in the property developer.
Business Recorder
3 days ago
- Automotive
- Business Recorder
Japan's Nikkei ends lower on worries about US-China trade tension, stronger yen
TOKYO: Japan's Nikkei share average ended lower on Monday amid worries over trade tensions between the U.S. and China, and a stronger yen, which hurt automakers. The Nikkei fell 1.3% to 37,470.67 and the broader Topix slipped 0.87% to 2777.29. 'Investors were worried about rising uncertainties about trade issues,' said Shoichi Arisawa, general manager of investment research at IwaiCosmo Securities. 'Optimism over the tariff policy, which pushed the Nikkei over the psychologically important level of 38,000 last week, has vanished.' U.S. President Donald Trump on Friday accused China of breaching a trade agreement with the U.S. and issued a new veiled threat to get tougher with Beijing. Trump later said he would speak to China's President Xi Jinping and hopefully work out their differences on trade and tariffs. The yen strengthened on Monday, rising 0.6% to 143.15 against the U.S. dollar, following the declines of U.S. Treasury yields on Friday. This also weighed on Japanese stocks, said Arisawa. Nikkei ends at two-week high on US tariff relief A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese currency. 'One market-moving cue would be the G7 leaders' summit to be held in Canada later this month, where we may see the fate of trade talks between Japan and the U.S.,' said Arisawa. Automakers fell, with Toyota Motor and Honda Motor down 2.82% and 2.11%, respectively. Chip-related shares declined, with Advantest and Tokyo Electron slipping 3.76% and 1.72%, respectively. All but five of the Tokyo Stock Exchange's 33 industry sub-indexes fell, with the auto sector and tyre makers losing 2% and 3.22%, respectively, to become the worst performers. T&D Holdings ended 4% higher after a report said an activist investor built a 4-5% stake in the insurer group.
RTHK
3 days ago
- Business
- RTHK
Hang Seng Index ends with across the board declines
Hang Seng Index ends with across the board declines The Hang Seng Index ended the day down 131.80 points, or 0.57 percent, at 23,157.97. Photo: RTHK Asian markets sank on Monday as investors brushed off data showing the US Federal Reserve's favoured inflation gauge cooled more than expected last month. In Hong Kong, the Hang Seng Index ended the day down 131.80 points, or 0.57 percent, at 23,157.97. The Hang Seng China Enterprises Index, which tracks mainland companies listed in Hong Kong, declined 0.9 percent to the lowest since May 6, The declines were across the board, with the Hang Seng Tech Index losing 0.7 percent, property subindex declining 1.4 percent and healthcare sector sliding nearly 2 percent. Among the biggest laggards, local property firm New World Development plunged 6.9 percent to near a two-month low after it deferred coupon payments. Carmakers continued the slide amid ongoing price war concerns. Shares of Li Auto and Nio both lost more than 2 percent, while BYD weakened 1.9 percent. New World Development is in the middle of a loan refinancing drive as it looks to raise more than US$11 billion from banks. Japan's Nikkei share average ended lower amid worries over Sino-US trade tensions and a stronger yen, which hurt automakers. The Nikkei fell 1.3 percent to 37,470.67 and the broader Topix slipped 0.87 percent to 2777.29. "Investors were worried about rising uncertainties about trade issues," said Shoichi Arisawa, general manager of investment research at IwaiCosmo Securities. "Optimism over the tariff policy, which pushed the Nikkei over the psychologically important level of 38,000 last week, has vanished." Sydney, Singapore, Taipei, Mumbai and Jakarta also fell along with London, Paris and Frankfurt. Seoul and Manila were marginally higher, while Shanghai and Shenzhen were closed for a holiday. (AFP/Reuters)
Economic Times
3 days ago
- Automotive
- Economic Times
Japan's Nikkei ends lower on worries about US-China trade tension, stronger yen
Japan's Nikkei share average ended lower on Monday amid worries over trade tensions between the U.S. and China, and a stronger yen, which hurt automakers. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Japan's Nikkei share average ended lower on Monday amid worries over trade tensions between the U.S. and China, and a stronger yen, which hurt Nikkei fell 1.3% to 37,470.67 and the broader Topix slipped 0.87% to 2777.29."Investors were worried about rising uncertainties about trade issues," said Shoichi Arisawa, general manager of investment research at IwaiCosmo Securities."Optimism over the tariff policy, which pushed the Nikkei over the psychologically important level of 38,000 last week, has vanished."U.S. President Donald Trump on Friday accused China of breaching a trade agreement with the U.S. and issued a new veiled threat to get tougher with later said he would speak to China's President Xi Jinping and hopefully work out their differences on trade and yen strengthened on Monday, rising 0.6% to 143.15 against the U.S. dollar, following the declines of U.S. Treasury yields on Friday. This also weighed on Japanese stocks, said Arisawa.A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese currency."One market-moving cue would be the G7 leaders' summit to be held in Canada later this month, where we may see the fate of trade talks between Japan and the U.S.," said fell, with Toyota Motor and Honda Motor down 2.82% and 2.11%, shares declined, with Advantest and Tokyo Electron slipping 3.76% and 1.72%, but five of the Tokyo Stock Exchange's 33 industry sub-indexes fell, with the auto sector and tyre makers losing 2% and 3.22%, respectively, to become the worst performers.T&D Holdings ended 4% higher after a report said an activist investor built a 4-5% stake in the insurer group.
Time of India
3 days ago
- Automotive
- Time of India
Japan's Nikkei ends lower on worries about US-China trade tension, stronger yen
Japan's Nikkei share average ended lower on Monday amid worries over trade tensions between the U.S. and China, and a stronger yen, which hurt automakers. The Nikkei fell 1.3% to 37,470.67 and the broader Topix slipped 0.87% to 2777.29. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo "Investors were worried about rising uncertainties about trade issues," said Shoichi Arisawa, general manager of investment research at IwaiCosmo Securities. "Optimism over the tariff policy, which pushed the Nikkei over the psychologically important level of 38,000 last week, has vanished." U.S. President Donald Trump on Friday accused China of breaching a trade agreement with the U.S. and issued a new veiled threat to get tougher with Beijing. Live Events Trump later said he would speak to China's President Xi Jinping and hopefully work out their differences on trade and tariffs. The yen strengthened on Monday, rising 0.6% to 143.15 against the U.S. dollar, following the declines of U.S. Treasury yields on Friday. This also weighed on Japanese stocks, said Arisawa. A stronger yen typically weighs on exporter shares by reducing the value of overseas earnings when converted back into Japanese currency. "One market-moving cue would be the G7 leaders' summit to be held in Canada later this month, where we may see the fate of trade talks between Japan and the U.S.," said Arisawa. Automakers fell, with Toyota Motor and Honda Motor down 2.82% and 2.11%, respectively. Chip-related shares declined, with Advantest and Tokyo Electron slipping 3.76% and 1.72%, respectively. All but five of the Tokyo Stock Exchange's 33 industry sub-indexes fell, with the auto sector and tyre makers losing 2% and 3.22%, respectively, to become the worst performers. T&D Holdings ended 4% higher after a report said an activist investor built a 4-5% stake in the insurer group.
