Japan’s Nikkei fell on Thursday as weak U.S. and Chinese economic data and Sino-U.S. trade frictions soured sentiment, while banks tumbled on weak earnings reports.
The Nikkei share average shed 1.1% to 20,969.69 points by midmorning. The broader Topix fell 0.8% to 1,531.92, with most cyclical sectors in the red. Domestic-demand sectors such as utility, construction and railway attracted buyers.
Adding to worries about the trade war which has already dragged down the Japanese market by 5.4% this month, the U.S. Commerce Department said on Wednesday it is adding China’s Huawei Technologies Co Ltd and 70 affiliates to its so-called “Entity List.”
Source : Reuters