TOKYO, July 27 (Reuters) - Japanese shares slid to a 1-1/2
week low on Monday as worries over worsening ties between China
and the United States soured investor mood, and a firmer yen
weighed on exporters.
The benchmark Nikkei 225 index .N225 fell 0.16% at
22,715.85, its lowest closing since July 17.
Shares pared losses in the afternoon, however, as traders
speculated the Bank of Japan would buy ETFs after a weak morning
session.
Market sentiment continued to be hit by further
deterioration in Sino-U.S. relations, following the tit-for-tat
closures of consulates in both countries.
The tense backdrop underpinned the safe-haven yen, with the
currency rising as high as 105.38 yen to the dollar, a level
unseen since March 16.
Exporters Mitsubishi Motors 7211.T shed 3.24%, Toshiba
Corp 6502.T declined 2.16% and Honda Motor Co Ltd 7267.T
dropped 0.54%.
Among other individual shares, defence-related names gained
due to tensions between the two largest economies.
Mine manufacturer Ishikawa Seisakusho Ltd 6208.T rallied
6.23%, while flare manufacturer Hosoya Pyro-Engineering Co Ltd
4274.T added 7.57%.
The largest percentage loss in the index was Nikon Corp
7731.T , which fell 7.15% after Intel Corp INTC.O shares
signalled it may stop manufacturing its own chip components.
Other semiconductor-related companies were also bruised,
with Screen Holdings Co Ltd 7735.T slipping 1.81%, while Disco
Corp 6146.T and Alps Alpine Co Ltd 6770.T lost 2.22% and
3.59%, respectively.
The broader Topix .TOPX recouped its early losses to close
up 0.24% at 1,576.69.
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Nikkei hits 1-1/2 week low on Sino-U.S. tensions, firmer yen
Published 27/07/2020, 09:03
Nikkei hits 1-1/2 week low on Sino-U.S. tensions, firmer yen
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