Nikkei closed 0.6 percent lower

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The stock market in Japan ended on a loss on Wednesday. The hope for a breakthrough in the trade dispute between the United States and China has declined due to increasing tensions between the two superpowers. Trade negotiations between the two countries will resume in Washington on Thursday.

The Nikkei in Tokyo closed 0.6 percent lower at 21,456.38 points. Companies that are sensitive to the trade troubles were sold. Robot maker Fanuc, for example, fell 1.6 percent. The Japanese chip companies were also under pressure after the heavy exchange losses among American counterparts. Advantest and Sumco fell 2.4 percent and 3.4 percent respectively. Kansai Electric Power won 2.5 percent. The chairman of the energy group has decided to leave because of the corruption scandal.

Apple’s Asian suppliers were also under pressure. Chinese state media have criticized the American technology group because of the HKmap.live app. The app, which follows the movements of the police, is used by the demonstrators in Hong Kong. For example, Sunny Optical fell 3.1 percent in Hong Kong. In Tokyo, Sharp lost nearly 3 percent.

In the meantime, the stock market indicator in Shanghai scored 0.1 percent in the plus. Washington has imposed restrictions on visas for some Chinese government officials and members of the Communist Party. The US does that because the Uyghurs, a Chinese Muslim minority, are being suppressed by the government in their own country. The Hang Seng index in Hong Kong dropped 0.5 percent and the All Ordinaries in Sydney fell 0.7 percent. In South Korea, investors had a day off.

About the author

Lesley Woutersen

Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by [email protected]

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