Tokyo's Nikkei edges down on US-China tensions
- 18 Aug 2020
Tokyo's benchmark Nikkei index closed marginally lower on Tuesday as sentiment dipped amid US-China tensions and stalled talks on a new US stimulus.
The Nikkei 225 index fell 0.20 per cent, or 45.67 points, to 23,051.08, but the broader Topix index rose 0.06 per cent, or 1.03 points, to 1,610.85.
Market sentiment remained cautious, with investors monitoring Chinese reactions to a US decision to expand sanctions on telecoms giant Huawei, brokers said, further limiting its access to computer chips and other products.
"Investors are also worried about a stalemate in Congress on a new spending package although a deal is still expected sooner or later," Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told AFP.
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Many investors were on the sidelines, shifting their focus to Wednesday's release of US Federal Reserve meeting minutes, brokers said.
The dollar changed hands at 105.57 yen in Asian afternoon trade, down from 105.99 yen in New York late Monday.
In Tokyo, Nintendo jumped 2.48 percent to 52,830 yen with Toyota up 0.27 percent at 7,176 yen.
High-tech shares were mixed after the Nasdaq posted new records. Tokyo Electron, which makes tools to produce semiconductors, rose 1.15 percent to 28,980 yen but chip-testing equipment maker Advantest fell 1.80 percent to 5,450 yen.
Agence France-Presse