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Japan Stocks end tad lower

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Headline indices of the Japan share market closed edge lower after directionless trade on Tuesday, 04 September 2018, amid worries about rising trade tensions as well as the sell-off in emerging market currencies and in the absence of fresh cues from Wall Street, which was closed overnight for the Labor Day holiday. Market players retreated to the sidelines ahead to the release of key US data and to wait to see further developments in the U.S.-Canada talks to overhaul the North American Free Trade Agreement, set to resume Wednesday. At closing bell, the benchmark Nikkei 225 index fell 0.05%, or 10.48 points, to 22,696.90. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 0.12%, or 2.07 points, to 1,718.24.

Traders are waiting for US manufacturing activity figures later Tuesday and the resumption of US-Canada talks on a revised NAFTA deal Wednesday.They are also biding their time ahead of the possible imposition Thursday of more tariffs on $200 billion of Chinese imports by Washington, while US jobs figures are due Friday.

 

Shares of exporters such as automakers and tech companies were mixed despite a weaker yen. Panasonic fell 1.13% to 1,306.5 yen and Hitachi was down 0.68% at 711.1 yen, but chip-testing equipment maker Advantest jumped 1.42% to 2,710 yen. Toyota lost 0.63% to 6,773 yen and Honda dropped 1.16% to 3,218 yen. Chip-making devices maker Tokyo Electron inched up 0.02% to 18,515 yen.

Beverage producer Ito En closed 8.78% lower on its disappointing profits for May-July, announced Monday.

Department store operator Matsuya Co. ended 5.55% higher as investors took heart from its brisk sales in August.

CURRENCY NEWS: Japanese yen tad softer against greenback. The dollar fetched 111.31 yen, up from 111.07 yen in London.

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First Published: Sep 04 2018 | 3:55 PM IST

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