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Nikkei Falls, Pulled Down by Machinery Firms, Chip-Related Shares


Tuesday, 29 January 2019 10:21 WIB

Saham JepangIndeksTopixIndeks Nikkei


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Japan’s Nikkei fell on Tuesday as warnings from U.S. industry bellwethers Caterpillar and Nvidia dragged down shares of construction machinery makers and chip-related companies.

The Nikkei share average declined 1.0 percent to 20,448.47 at the midday break. The broader Topix dropped 0.7 percent to 1,544.14.

Japanese machinery and electric machinery sectors were the worst performers on the board, falling 2.6 percent and 2.2 percent, respectively.

Caterpillar Inc on Monday missed quarterly earnings estimates, hurt by soft Chinese demand, higher manufacturing and freight costs.

Nvidia Corp cut its fourth-quarter revenue estimate by half a billion dollars because of weak demand for its gaming chips in China and lower-than-expected data centre sales.

Source : Reuters


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