Trump’s support for Hong Kong protesters drags Japanese shares lower

28.11.2019 - Davydova Maria
Trump’s support for Hong Kong protesters drags Japanese shares lower

TOKYO- Japanese shares sunk down on Thursday following US President Donald Trump’s approval of the recently passed legislation supporting Hong Kong protesters. Such brought derailment in trade talks and reason for “phase one” to slide from happening.

The Nikkei share is marginally lower on Tuesday with 0.02% loss to 23,433.16 while the broader Topix shed 0.1% to 1,709.33.

China condemned the recently passed legislation of the United States backing up Hong Kong protesters. Chinese government viewed it as a gross interference in its affairs and a violation of the international law. In line, it declared to arm its sovereignty and security by creating counter-measures.

“In the near term, people are watching how China will react to Trump’s move,” said Masahiro Ayukai, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

“But there is little change in the view that the global economic sentiment is bottoming out,” he added.

Despite setbacks, some technology-related shares recorded a positive performance with Hitachi gaining 1.6% and set to reach its 1 1/2 –year high.

Kyocera inched higher with 2.1%, its best recorded mark since early 2018 while Fujitsu soared with 0.7% earnings, sealing its 10-year peak.

Panasonic increased with 2.6% gains following initial reports that the company was planning to let go of its small, money-losing semiconductor venture.

 Some defensive shares also declined as Central Japan Railway shed 1.3% and East Japan Railway inched down with 1.1%.

Japan Display lost 5.6% earnings following the panel maker’s statement of reviewing its previous gains. This happened after a former accounting executive exposed fraudulent accounting records which could be traced back to the former top management.

Small-to-mid-cap shares clocked in better with Tokyo Stock Exchange’s second-section index acquiring 0.7% earning, and Mothers Index of newbie firms with 0.2% increase.


Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?