Japanese shares dip but losses limited ahead of G20

Published 25/06/2019, 03:34
Japanese shares dip but losses limited ahead of G20
JP225
-
TOPX
-
7267
-
8035
-
7630
-
04J
-
7203
-

* Nikkei dips 0.21%, Topix inches up 0.04%
* U.S.-Iran tensions, stronger yen weigh on Nikkei
* But selling limited ahead of Trump-Xi meeting at upcoming
G20

By Shinichi Saoshiro
TOKYO, June 25 (Reuters) - Japan's Nikkei share average
.N225 edged down on Tuesday amid brewing U.S.-Iran tensions
and with a stronger yen weighing on exporters, but losses were
limited ahead of a G20 summit, which could determine near-term
risk appetite direction.
The Nikkei ended the morning session down 0.21% at
21,241.28.
U.S. President Donald Trump and Chinese Xi Jinping are
expected to discuss trade issues on the sidelines of the June
28-29 G20 summit in Japan.
The meeting is the first face-to-face meeting for the
leaders since trade talks broke down in May, leading to a hike
in U.S. tariffs on imports of Chinese goods.
"It's a quiet market in which sellers are few and sparse
ahead of the Trump-Xi meeting at the G20," said Takashi Hiroki,
chief strategist at Monex Securities.
"A major breakthrough in trade talks is unlikely but the
United States and China might agree to keep the dialogue going
at the G20. That could be enough to fuel 'risk on'," he added.
Shares of exporting companies sagged as the yen added to its
gains against the dollar.
Toyota Motor Corp 7203.T dipped 0.2%, Honda Motor Co
7267.T lost 0.5% and Tokyo Electron 8035.T fell 1.9%.
Ichibanya Co 7630.T rallied 5.7% after the curry
restaurant chain operator said its operating profit for the
March-May period rose 40.7%. Japan Communications Inc 9424.T surged 7.3% after the
provider of mobile communications services said it will begin
sales of SIMs for citizen broadband radio services (CBRS) in the
United States. Of Tokyo's 33 sub-indexes, 20 were in positive territory.
Gainers outnumbered declining shares 1,173 to 852.
The broader Topix .TOPX edged up 0.04% to 1,548.32.

(Editing by Sam Holmes)

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