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Nikkei Retreats From 3-Month High But Defense Stocks Jump


Wednesday, 6 March 2019 09:33 WIB

Nikkei 225IndeksTopix


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Japan’s Nikkei retreated from three-month highs after weak U.S. shares soured investor sentiment, but defense-related companies jumped on reports that North Korea has restored part of a missile launch site.

The Nikkei share average shed 0.6 percent to 21,604.61 in midmorning trade, with support seen at its 25-day moving average of 21,176.28. The broader Topix declined 0.3 percent to 1,615.14.

The Nikkei has traded at a three-month high earlier this week, but analysts say investors are now taking profit in the absence of any fresh catalysts to buy.

Concerns over U.S.-China trade issues have persisted after U.S. Secretary of State Mike Pompeo said President Donald Trump would reject a trade deal that was not perfect, but the United States would still keep working on an agreement.

Source : Reuters


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