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Japan Nikkei falls on profit taking

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The share market closed lower for the first time in four sessions in row on Wednesday, 12 June 2019, as profit taking resumed amid wary about the prospects for the Japanese economy and lingering anxiety over the US-trade war. At closing bell, the 225-issue Nikkei Stock Average declined 0.35%, or 74.56 points, to 21,129.72, while the broader Topix index of all First Section issues on the shed 0.45%, or 7.10 points, at 1,554.22.

Total 23 subsectors out of 33 subsectors of the Topix's were in negative territory, with Other Products, Real Estate, Oil & Coal Products, Securities & Commodities Futures, and Mining issues being notable losers, while Pulp & Paper, Retail Trade, and Iron & Steel issues were notable gainers.

Investors' sentiments turned downbeat on lingering concerns over the global economic outlook amid ongoing trade issues. China's foreign ministry on Tuesday said it would respond firmly if the U. S. insisted on escalating trade tensions, after U.

S. on Monday said further tariffs on Chinese imports would take effect if the two countries don't reach a deal at a meeting of Group of 20 leaders later this month.

The US said on Tuesday that he was holding up a trade deal with and had no interest in moving ahead unless agrees to four or five "major points" which he did not specify.

shares declined over 3% after a group of US state governments filed a lawsuit to block the proposed $26 billion merger between Sprint, majority owned by SoftBank, and T-Mobile, saying the deal would harm consumers.

fell 2.54% to 38,370 yen after the postponed the release of a popular

ECONOMIC NEWS: 0.1% On Month In May -- prices were down 0.1% on month in May, the of Japan said on Wednesday, following the 0.4% increase in April. On a yearly basis, prices added 0.7%, following the 1.3% gain in the previous month. Export prices were down 1.4% on month and 2.7% on year, the central said, while import prices sank 0.3% on month and 1.4% on year.

Japan Core Machine Orders Advance In April -- Japan total value of core machine orders advanced a seasonally adjusted 5.2% on month in April, standing at 913.7 billion yen, the said on Wednesday, following the 3.8% gain in March. On a yearly basis, core machine orders advanced 2.5%, following the 0.7% decline in the previous month.

CURRENCY NEWS: marginally appreciated against greenback on Wednesday. The traded at 108.45 against the dollar after scaling levels above 108.6 in the previous session

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

First Published: Wed, June 12 2019. 12:35 IST
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