The Japan 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-China 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 Tokyo Stock Exchange 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.
The US President Donald Trump said on Tuesday that he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees to four or five "major points" which he did not specify.
SoftBank Group 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.
ECONOMIC NEWS: Japan Producer Prices Down 0.1% On Month In May -- Japan producer prices were down 0.1% on month in May, the Bank of Japan said on Wednesday, following the 0.4% increase in April. On a yearly basis, producer 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 bank 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 Cabinet Office 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.
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