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Japan Market falls on refueled trade war concerns

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share market closed down on Thursday, 16 May 2019, as investors risk sentiments weighed down by rekindled concerns over an escalation of the U. S.-trade conflict after U. S. signed on Wednesday an order forbidding U. S. companies from using made by foreign companies deemed national security threats. At closing bell, the 225-issue Nikkei Stock Average declined 125.58 points, or 0.6%, at 21,062.98, while the broader index of all First Section issues on the Stock Exchange sank 6.60 points, or 0.43%, lower at 1,537.55. .

stocks opened lower after more conciliatory messages from on trade. The U.

S. signed on Wednesday an order forbidding U. S. companies from using made by foreign companies deemed national security threats. The order apparently targets Chinese giant But stocks displayed some resilience around the midmorning as investors moved to hunt bargains. In the afternoon, the market struggled for direction.

Japanese automakers were mixed amid growing expectations for Trump to delay his auto tariff decision, with falling 1% to 6,502 yen but was up 0.16% at 787.1 yen. said Wednesday that Trump is considering putting off his decision on whether to slap fresh tariffs on cars and parts from the and by up to six months. The delay is expected to be announced Saturday, the current deadline for the decision.

China-related shares were lower, with dropping 3.25% to 7,140 yen and down 6.30% at 2,881 yen.

lost 1.90 yen to 5,369 yen. After the closing bell, the firm announced a 200-billion-yen share buyback.

Mega-group sagged 3.6% because its net profit forecast for the year through March 2020 and no announcement of a share buyback plan disappointed investors

CURRENCY NEWS: The Japanese yen was little changed against the dollar on Thursday. The dollar slipped to 109.49 yen in Asian afternoon trade from 109.58 yen in Wednesday afternoon.

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

First Published: Thu, May 16 2019. 16:16 IST
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