Japan Market extends losses

Headline indices of the Japan share market declined for second straight session Thursday, 30 May 2019, as risk aversion selloff continued on tracking losses Wall Street overnight amid concerns about the impact on global economic growth due to trade dispute between the world's top two economic superpowers. Meanwhile, yen appreciation against greenback also dampened sentiments. Total 17 issues of 33 subsectors of the Tokyo Stock Exchange declined, with shares in Pulp & Paper, Services, Pharmaceutical, Foods, and Real Estate issues being notable losers, while Oil & Coal Products, Insurance, Marine Transportation, and Mining issues were notable losers. Around late afternoon, the 225-issue Nikkei Stock Average declined 0.45%, or 94.80 points, to 20,908.57, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 0.43%, or 6.61 points, at 1,529.80.

Beijing and Washington signalled the heightened risk of a prolonged trade war, stoking investors' concerns about the impact on global economic growth. This kind of deliberately provoking trade disputes is naked economic terrorism, economic homicide, economic bullying, China's Vice Foreign Minster Zhang Hanhui said, as Beijing continued to dial up its rhetoric amid the festering trade war with the United States.

China's Vice Foreign Minster Zhang Hanhui comments came after reports that Beijing may cut exports of rare-earth minerals used in the defense and energy sectors to strike back at Washington after US President Donald Trump remarked he was not yet ready to make a deal with China over trade.

CURRENCY NEWS: The dollar was little changed at 109.530 yen after bouncing back from a two-week low of 109.150 brushed on Wednesday, as demand for safe heaven resumed on concerns about global-growth outlook amid heightened trade tensions.

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