Japan's Nikkei edges up on exporters, TOPIX falls
Reuters
Published Nov 12, 2019 03:39
Japan's Nikkei edges up on exporters, TOPIX falls
By Stanley White
TOKYO, Nov 12 (Reuters) - Japan's Nikkei edged up on Tuesday
as a slightly weaker yen boosted shares of exporters, but the
broader TOPIX index fell as worries about U.S.-China trade
friction and an escalation of violence in Hong Kong hurt
sentiment.
The Nikkei index rose 0.07% to 23,348.86 by 0201 GMT.
However, the Topix index .TOPX fell 0.29% to 1,699.15, on
course for its biggest decline in more than three weeks.
The yen JPY=EBS traded near a five-month low versus the
dollar, which tends to benefit exporters because a weaker
currency helps export competitiveness and inflates earnings
repatriated from overseas.
Excluding this factor, traders avoided taking big positions
after U.S. President Donald Trump said there had been incorrect
reporting about U.S. willingness to lift tariffs on China, which
could make a resolution to a 16-month long trade war more
difficult. Traders are also watching Hong Kong. Riot police fired tear
gas at a university on Tuesday, a day after a protester was shot
and a man set on fire in some of the worst violence to rock the
former British colony in more than five months of protest
against Chinese rule. There were 85 advancers on the Nikkei index on Tuesday
against 130 decliners.
The largest percentage gainers in the index were industrial
materials makers Nitto Denko Corp 6988.T up 4.55% and Unitika
Ltd 3103.T which gained 3.98%, followed by electronics maker
Alps Alpine Co Ltd 6770.T up by 3.36%.
The largest percentage losses in the index were Mitsui
Mining and Smelting Co Ltd 5706.T down 13.01%, followed by
Japan Steel Works Ltd 5631.T losing 3.61% and processed food
maker Ajinomoto Co Inc 2802.T down by 2.47%.
Caution also ruled ahead of a speech by Trump to the
Economic Club of New York later in the day as markets awaited
any word on the Sino-U.S. 'phase one' trade deal.
The volume of shares traded on the Tokyo Stock Exchange's
main board .TOPX was 0.53 billion, compared with the average
of 1.25 billion yen in the past 30 days.
(Editing by Jacqueline Wong)
Get The App
Written By: Reuters
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.