Nikkei retreats to 1-week low as trade deal doubts emerge; Nintendo jumps

TOKYO, Nov 1 (Reuters) - Japan's benchmark Nikkei share
average fell to a one-week low as fresh concerns over the
prospects for a U.S.-China trade deal lifted the safe-haven yen
against the dollar, hitting exporters and other cyclical stocks.
The Nikkei average .N225 were down 0.4% to 22,833.23 at
the midday break, after falling to as low as 22,705.60, its
lowest level since Oct. 24. For the week, the average was on
track to eke out a 0.1% gain, to mark its fourth consecutive
weekly rise. The broader Topix .TOPX shed 0.2% to 1,664.47.
Chinese officials doubt a comprehensive long-term trade deal
with Washington and U.S. President Donald Trump is possible,
Bloomberg reported on Thursday, citing unnamed sources.

The latest blow to hopes the world's two largest economies
will reach a deal to end their trade war comes despite comments
from Trump that the countries would soon announce a new site for
the signing of a "Phase One" deal, after Chile cancelled a
planned APEC summit set for mid-November.
The dollar hit a three-week low of 107.92 yen JPY=
overnight after the emergence of the renewed doubts on a
resolution of the trade war rattled the greenback and pushed
global stock markets lower. USD/ MKTS/GLOB
As a strong yen cuts Japanese manufacturers' profits made
abroad when repatriated, export-oriented companies and cyclical
sectors came under pressure on Friday.
Automaker Subaru 7270.T dropped 1.0%, while electronic
device maker Kyocera 6971.T and optical equipment maker
Olympus 7733.T shed 3.0% and 2.9%, respectively.
As midyear earnings season enters full swing, Nintendo
7974.T jumped 5.9% after the gaming company's operating profit
for the July-September quarter more than doubled, blowing past
analyst estimates, on strong demand for its Switch console.

Keyence 6861.T soared 8.5% after the factory automation
equipment maker announced a stock split plan and an annual
dividend forecast along with its April-September results.