Japan Nikkei extends losses

Headline indices of the Japan share market closed lower on Friday, 15 February 2019, as profit-taking pressure grew on tracking a weak Wall Street session overnight, the yen's appreciation against the dollar, and on caution amid ongoing U.S.-China trade negotiations in Beijing. Total 27 issues of TSE33 declined, with shares in Nonferrous Metals, Services, Machinery, Glass & Ceramics Products, Foods, and Information & Communication services issues comprised those that declined the most by the close of play. At closing bell, the 225-issue Nikkei index fell 239.08 points, or 1.13%, to end at 20,900.63. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 12.52 points, or 0.79%, at 1,577.29.

Insurer Dai-ichi Life closed 4.66% lower on its dismal April-December earnings. Yokohama Rubber was downbeat as its operating profit forecast for the year through December 2019 fell short of market consensus. Other major losers included clothing retailer Fast Retailing and technology conglomerate SoftBank Group. By contrast, drugmaker Shionogi, daily goods manufacturer Kao and oil company Showa Shell attracted purchases.

 

CURRENCY NEWS: The Japanese yen appreciated slightly against the greenback on Friday. The dollar fetched 110.44 yen in Asian trade, down from 110.69 yen in New York on Thursday.

OFFSHORE MARKET NEWS: US stock market closed lower after the Commerce Department reported US retail sales had dropped 1.2% in December from the previous month, marking the largest month-to-month decrease since September 2009.. The S&P 500 slipped 0.27% to close at 2,745.72 while the Dow Jones Industrial Average declined 103.88 points to finish its trading day at 25,439.39. The Nasdaq Composite, on the other hand, edged up by 0.1% to close at 7,426.95.

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