By Stanley White
TOKYO, Oct 2 (Reuters) - Japanese shares fell on Wednesday
after manufacturing activity in the United States contracted by
the most in more than a decade, offering further evidence that
the U.S.-China trade war is slowing global growth.
The Nikkei average share price index ended down 0.49% at
21,778.61.
A survey from the U.S. Institute for Supply Management (ISM)
on Tuesday showed manufacturing activity in the United States
tumbled to a more than 10-year low in September as the trade war
weighed on exports. "The ISM figures were surprisingly low, and this is having a
direct impact on Japan's industrial shares," said Kiyoshi
Ishigane, chief fund manager at Mitsubishi UFJ Kokusai Asset
Management Co.
"Exports don't make up such a large share of the U.S.
economy, but there are still concerns about global trade," he
said.
There were 150 decliners on the Nikkei index against 69
advancers on Wednesday.
Heavy equipment makers and exporters led declines as any
weakness in the United States - a major market for Japanese
capital goods - and a slightly stronger yen could impact
corporate profits.
The largest losers in the index by percentage were Nissan
Chemical Corp 4021.T down 5.43%, followed by Rakuten Inc
4755.T losing 4.76% and Yaskawa Electric Corp 6506.T down by
4.22%.
The largest gainers were Kansai Electric Power Co Inc
9503.T up 3.22%, followed by KDDI Corp 9433.T gaining 2.99
%, and Casio Computer Co Ltd 6952.T up by 2.69%.
The broader Topix index .TOPX fell 0.42% to 1,596.29.
The volume of shares traded on the Tokyo Stock Exchange's
main board .TOPX was 1.01 billion, compared to the average of
1.18 billion yen in the past 30 days.
($1 = 107.8300 yen)
U.S. manufacturing dives to 10-year low as trade tensions weigh
U.S. consumer spending underscores risks to economy
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