single

Headline indices of the Japan share market declined on Friday, 28 June 2019, as risk sentiments dampened on yen appreciation against greenback and on caution ahead of the highly anticipated U.S.-China presidential meeting Saturday that could determine the next chapter in the trade war between the world's two largest economies. Total 22 subsectors out of 33 subsectors of the Topix's index declined, with Oil & Coal Products, Securities & Commodities Futures, Mining, Land Transportation, and Iron & Steel issues being notable losers, while Precision Instruments, Electric Power & Gas, and Fishery, Agriculture & Forestry issues were notable gainers. Around late afternoon, the 225-issue Nikkei Stock Average dropped 0.47%, or 101.24 points, to 21,236.93, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange fell by 0.25%, or 3.85 points, at 1,549.42.

Trump and Xi are scheduled to meet on Saturday at the G-20 summit in Japan, where they are expected to discuss trade, as investors watch for signs of whether the two countries can make progress toward ending their protracted trade fight. A positive outcome could provide the market with a boost while a collapse in discussions could be a weight. An agreement between Trump and Xi at the G-20 summit in Japan could avert the next round of tariffs on additional $300 billion worth of Chinese imports.

At the G-20 summit, Xi told a meeting of the BRICS (Brazil, Russia, India, China, South Africa) countries' leaders that protectionist measures being taken by some developed countries are damaging the global trade order.

ECONOMIC NEWS: Japan Industrial Output Climbs 2.3% On Month In May --Japan industrial production climbed a seasonally adjusted 2.3% on month in May, the Ministry of Economy, Trade and Industry said in Friday's preliminary reading, following the 0.6% gain in April. On a yearly basis, industrial production sank 1.8% following the 1.1% drop in the previous month. Upon the release of the data, the ministry maintained its assessment of industrial production, saying that it continues to fluctuate indecisively. Industries that contributed to the increase included motor vehicles, electrical machinery and production machinery. Industries that declined were transport equipment and other manufacturing. Shipments were up 1.6% on month and down 1.5% on year.

Japan Unemployment Rate Unchanged At 2.4% In May -- Japan unemployment rate came in at a seasonally adjusted 2.4% in May, the Ministry of Internal Affairs and Communications said on Friday, unchanged from the previous month. The job-to-applicant ratio was 1.62. The number of employed persons in May was 67.32 million, an increase of 340,000 or 0.5% on year. The labor force participation rate was 62.5%.

CURRENCY NEWS: Japanese yen, often seen as a safe-haven currency, appreciated against greenback on Friday. The Japanese yen traded at 107.65 against the dollar after touching levels above 108.0 in the previous session.

TAGS

0 thoughts on “Japan Nikkei falls ahead of key G20 talks”

Post Comment



  Market Tips

Intraday trading is an art of earning money from stock market and it requires a lot of patience and time to allocate in the daily schedule.



Daily News

VIEW ALL