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Japanese shares dip after activation of U.S-China tariffs

Published 09/02/2019, 10:03 AM
Updated 09/02/2019, 10:10 AM
Japanese shares dip after activation of U.S-China tariffs
JP225
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TOPX
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4063
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6301
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4502
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4503
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9022
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6506
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9101
-
9104
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9107
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6954
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BADI
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By Shinichi Saoshiro
TOKYO, Sept 2 (Reuters) - Japanese shares dipped on Monday
as the weekend activation by the United States and China of
tariffs on some of each other's goods deepened the ongoing trade
war between the pair.
Washington began imposing 15% tariffs on a variety of
Chinese goods on Sunday, while Beijing started imposing new
duties on U.S. crude on the same day. The Nikkei stock average .N225 was down 0.29% at 20,643.98
at 0144 GMT.
There were 64 advancers on the Nikkei index against 154
decliners, as shares of companies with a strong presence in
China retreated.
Construction machinery maker Komatsu Ltd 6301.T declined
0.3%, robot manufacturer Fancuc Corp 6954.T lost 0.2% and
electrical equipment maker Yaskawa Electric Corp 6506.T fell
1%.
Shipping companies, on the other hand, gained thanks to a
rise in the Baltic index .BADI , which tracks rates for ships
ferrying dry bulk commodities, to a nine-year peak. Nippon Yusen KK 9101.T edged up 0.5%, Kawasaki Kisen
Kaisha 9107.T added 1.2% and Mitsui OSK Lines 9104.T was up
0.8%.
The broader Topix .TOPX shed 0.28% to 1,507.63.
The top underperformers among the top 30 core Topix names
were Central Japan Railway Co 9022.T m which lost 1.4%,
followed by Shin-Etsu Chemical Co 4063.T which fell 1.3%.
The stocks that gained the most among the top 30 core Topix
were Astellas Pharma Inc 4503.T , which rose 2.1% and Takeda
Pharmaceutical Co 4502.T , which climbed 1.2%.

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