Japan Market falls on US-China trade tensions
Capital MarketHeadline indices of the Japan share market declined on Thursday, 23 May 2019, as investor sentiment was dented by tracking losses on Wall Street overnight amid renewed concerns over global economic uncertainties and Japanese Yen appreciation against greenback amid heightening concerns over the future course of the global economy. Most of TSE sectors declined, with shares in mining, marine transportation and electric appliance issues being notable losers. At closing bell, the 225-issue Nikkei Stock Average fell 132.23 points, or 0.62%, from Wednesday at 21,151.14, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 5.63 points, or 0.36%, lower at 1,540.58.
Shares of electric part suppliers met selling on concerns that their businesses could be adversely affected by U.S. sanctions on China's Huawei Technologies Co. Among Huawei suppliers, TDK tumbled 6.5% to 7,450 yen, Murata Manufacturing 2.9% to 4,454 yen and Panasonic 0.9% to 896.60 yen.
SoftBank Group dropped 5.3% to 10,090 yen, on reports that U.S. Justice Department staff recommended blocking the T-Mobile US Inc's $26 billion acquisition of smaller rival Sprint.
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