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Japan Market falls on global growth outlook concerns

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share market closed lower on Monday, 13 May 2019, as risk off selling continued amid heightening concerns about the outlook for global economy growth after the and failed to find a solution to their trade dispute in two days of ministerial negotiations in through Friday. At closing bell, the 225-issue Nikkei Stock Average fell 153.64 points, or 0.72%, to 21,191.28, while the broader index of all First Section issues on the was off 8.28 points, or 0.53%, at 1,541.14 .

China's to the trade talks, said before leaving that would not compromise on matters of principle and that tariffs on Chinese exports to the U. S. should be lifted as a condition for striking a deal. But Liu downplayed the level of tensions, saying could cope with the challenges posed by the trade dispute. .

said on over the weekend that We are right where we want to be with He accused China of ripping off The said it was preparing to expand 25% tariffs to another $300 billion worth of Chinese goods, or practically all imports from China, after raising the import duty from 10%, with effect Friday.

The tariffs war has been hammering Chinese manufacturers and is an added drag on growth for the region. Most of investors adopted a wait-and-see stance before the U. S. announced details about additional tariffs on all imports from China later Monday. .

fell 1.15% after its group operating profit forecast for the business year until March 2020, announced Friday, fell short of the market's expectations. .

plunged 9.16% after it released on Friday unfavorable group operating profit for the January-March quarter. .

CURRENCY NEWS: The Japanese yen continued appreciation against the dollar on Monday, as nervous investors seek safe-haven assets on heightened concerns about the outlook for the global economy. The dollar slipped to 109.74 Japanese yen from 109.96 yen on Friday. .

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 13 2019. 15:46 IST
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