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Japan's Nikkei dips; lift from Wall St fades as economy concerns linger

Published 08/29/2019, 09:32 AM
Updated 08/29/2019, 09:40 AM
Japan's Nikkei dips; lift from Wall St fades as economy concerns linger
JP225
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TOPX
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4502
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9984
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6098
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ISVCS.T
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7203
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By Shinichi Saoshiro
TOKYO, Aug 29 (Reuters) - Japan's Nikkei share average
dipped on Thursday, with an earlier bounce made on Wall Street
gains fading amid lingering concerns that trade conflicts and
political risks would hurt the global economy.
The Nikkei .N225 was down 0.4% at 20,397.28 as of 0127
GMT.
There were 72 advancers on the Nikkei index against 143
decliners.
The index rose as much as 0.2% in early trade after all
three of the major U.S. stock indexes posted gains overnight.
But the Nikkei's rise sputtered on underlying concerns
towards another flare-up in the U.S.-China trade war and latest
developments in the Brexit saga pointing to fresh turbulence in
the financial markets ahead.
Of Tokyo's 33 subindexes, 27 were in the red. Services
.ISVCS.T , sensitive to shifts in economic prospects, led the
decliners.
Staffing services company Recruit Holdings Co 6098.T
retreated 7.6% after it announced plans to sell approximately
7.16% of its outstanding shares through a secondary offering.
Suzuki Motor Corp 7203.T gained 1.1% with the carmaker
announcing a capital tie-up with Toyota Motor Corp 7203.T .
Shares of Toyota, which will pay around 96 billion yen
($910.90 million) for a 4.94% stake in Suzuki, were down 0.2%.
The broader Topix .TOPX slipped 0.46% to 1,483.49.
The stocks that gained the most among the top 30 core Topix
names were Takeda Pharmaceutical Co 4502.T up 1.16 %, followed
by SoftBank Group Corp 9984.T .
The underperformers among the Topix 30 were Recruit Holdings
Co.
($1 = 105.3900 yen)

(Editing by Simon Cameron-Moore)

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