Japan Stocks mixed as US tariff deadline nears

The Japan share market finished session mixed on Thursday, 12 December 2019, as investors reluctant to make bold moves amid lack of clear indication that the U.S. and China will reach an agreement over trade that could stop or reduce the current level of tariffs on Dec. 15. At closing bell, the 225-issue Nikkei Stock Average advanced 46 points, or 0.2%, to 23,437.86, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange eased 0.73 point, or 0.04%, at 1,714.22.

Total 24 issues of the 33 industry category of Topix index dived into negative territory, with Fishery, Agriculture & Forestry, Mining, Securities & Commodities Futures, Rubber Products, and Iron & Steel issues being notable losers, while Metal Products, Machinery, Real Estate, and Electric Appliances issues were notable gainers.

 

Traders kept an eye on the trade front as there continues to be no clear indication that the U.S. and China will reach an agreement over trade that could stop or reduce the current level of tariffs. The U.S. is due to impose fresh duties on Chinese goods by Sunday. As per reports, the U.S. plans to delay these additional tariffs on Beijing as both sides try to work out an agreement. However, also on Tuesday, White House economic advisor Larry Kudlow said the Dec. 15 deadline is still on the table.

ECONOMIC NEWS: Japan Core Machine Orders Plunge 6% On Month In October-- Japan core machine orders was down a seasonally adjusted 6.0% on month in October, the Cabinet Office said on Thursday, coming in at 798.8 billion yen, following the 2.9% decline in September. On a yearly basis, core machine orders sank 6.1% following the 5.1% jump in the previous month.

CURRENCY NEWS: The Japanese yen, often viewed as a safe-haven currency in times of economic uncertainty, little changed against greenback. The Japanese yen traded at 108.55 against the dollar after touching an earlier high of 108.44.

Powered by Capital Market - Live News