Investing.com - Financial Markets Worldwide
Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Japan shares dip as BOJ tankan saps risk appetite

Published 07/01/2020, 11:34 AM
Updated 07/01/2020, 11:40 AM
JP225
-
ESZ24
-
TOPX
-
7201
-
7267
-
7269
-
IAIRL.T
-
IPAPR.T
-

TOKYO, July 1 (Reuters) - Japanese shares inched lower on
Wednesday as investor sentiment soured after the Bank of Japan's
quarterly corporate survey showed the domestic business mood
worsened to an 11-year low because of the coronavirus crisis.
The benchmark Nikkei average .N225 fell 0.19% to 22,246.20
by the midday break.
The Nikkei futures .JNMcm1 fell 0.25% during the midday
recess after Japan's Chief Cabinet Secretary Yoshihide Suga said
the coronavirus state of emergency could be re-imposed in a
worst case scenario. Tokyo has sought to keep new infection cases below 20 a day
since Japan lifted a state of emergency in late May, but has had
five straight days of more than 50 new cases, as of Tuesday.
The Bank of Japan's tankan survey released on Wednesday
showed the mood among big manufacturers declined to minus 34
last month from minus 8 in March, reaching its lowest level
since June 2009.
The BOJ survey also indicated that big firms plan to raise
capital expenditure by 3.2% in the current fiscal year through
March 2021, higher than initially expected.
E-mini futures for the S&P 500 .Esc1 last quoted down
0.28%, creating an added headwind to Japanese shares.
All but five of 33 sector sub-indexes on the Tokyo exchange
traded in the red. Airlines .IAIRL.T and paper and pulp
.IPAPR.T stocks declined the most, falling 1.76% and 1.64%,
respectively.
Automobile shares were weak despite the softer yen, as the
BOJ survey indicated sentiment among large automobile
manufacturers delined to minus 72 from minus 17 in March.
Suzuki Motor Corp 7269.T slipped 3.39%, Honda Motor Co Ltd
7267.T slumped 1.69% and Nissan Motor Co Ltd 7201.T fell
1.13%.
The broader Topix .TOPX dipped 0.45% to 1,551.80 by the
recess.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.