Investing.com - Financial Markets Worldwide

Nikkei dented by U.S.-China tensions, but scores best month since 2015

Published 29/05/2020, 08:39
© Reuters.
JP225
-
TOPX
-
7201
-
7731
-
ISHIP.T
-
ISTEL.T
-
ITEQP.T
-
MTHR
-

SYDNEY, May 29 (Reuters) - Japanese stocks retreated from
three-month highs on Friday as escalating U.S.-China tensions
over Hong Kong prompted investors to lock in profits, but easing
coronavirus restrictions helped Nikkei mark its best month in
more than four-and-a-half years.
The benchmark Nikkei average .N225 fell 0.18% to
21,877.89, but the index gained 8.3% for May, its biggest
monthly gain since October 2015, thanks to optimism around
economies worldwide reopening from lockdowns.
The broader Topix .TOPX dropped 0.9% to 1,563.67, also off
its three-month high touched on Thursday, with all but five of
the 33 sector sub-indexes on the Tokyo exchange finishing lower.
Turnover shot up to 4.64 trillion yen, the third highest
this year, though the amount was boosted by rebalancing flows
related to re-shuffling in MSCI indexes.
China's passage of a national security law for Hong Kong
dampened risk sentiment, with U.S. President Donald Trump
scheduled to hold a news conference on China on Friday as his
administration moves to pressure Beijing over its treatment of
Hong Kong. Highly cyclical steelmakers .ISTEL.T , shippers .ISHIP.T
and automakers .ITEQP.T were among the three worst-performing
sectors on the main bourse, reversing their sharp gains from
earlier this week.
Nissan Motor Co Ltd 7201.T slumped 10.8% after it posted
an annual operating loss of 40.5 billion yen ($377 million) for
the business year ended in March, its worst performance since
2008/09. Nikon Corp 7731.T slumped 9.1% after reporting a massive
91.8% fall in its operating profit for the financial year ended
March 31. Bucking the overall trend, the index of Mothers start-up
shares .MTHR advanced 3.6% to a high last seen in December
2018.
($1 = 107.42 yen)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.