Japan Nikkei extends losses on Monday

Headline indices of the Japan share market were lower in morning trade on Monday, 15 October 2018, as investors risk sentiments remain cautious, following global losses in the previous week. In the previous week, stocks sold off globally as investors fretted over rising interest rates, valuations, lingering worries about U.S.-China trade tensions, and worries about a possible economic slowdown. Total 31 out of TSE 33 issues declined, with shares in Information & Communication, Banks, Glass & Ceramics Products, Textiles & Apparels, Transportation Equipment, Construction, and Foods issues being notable losers. Around afternoon trade, the 225-issue Nikkei index declined 359.94 points, or 1.6%, at 22,334.72. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 21.37 points, or 1.26%, to 1,681.08.

Shares of Softbank tumbled by around 5 percent over concerns of the company's ties to Saudi Arabia, which is under mounting pressure internationally following the disappearance of a prominent journalist who was a critic of the administration.

 

CURRENCY NEWS: Japanese yen was hovered around the 112 yen line against greenback on Monday, amid safe haven currency demand after bitter Sino-U.S. trade war and worries over global growth sapped confidence. The Japanese yen was at 112.08 against the dollar after strengthening from levels above 113.8 last week.

OFFSHORE MARKET NEWS, US stock market rebounded on Friday, as bargain hunting and strong Chinese trade data that eased concerns over slowing global growth. The Dow Jones Industrial Average jumped 287.16 points or 1.2% to 25,339.99, the Nasdaq soared 167.83 points or 2.3% to 7,496.89, and the S&P 500 surged up 38.76 points or 1.4% to 2,767.13.

European shares closed lower on Friday. The German DAX Index edged down by 0.1%. The U.K.'s FTSE 100 Index and the French CAC 40 Index both dipped by 0.2%.

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