Home » today » Business » Tokyo: Nikkei bends over Sino-US tensions

Tokyo: Nikkei bends over Sino-US tensions

The flagship index lost 0.20% to 23,051.08 points, and the extended Topix index closed 0.06% higher at 1,610.85 points.

The Nikkei closed slightly lower Tuesday on the Tokyo Stock Exchange, after a session where Sino-American tensions and the lack of progress on an economic stimulus plan in the United States weighed on investor morale.

The Nikkei flagship index lost 0.20% to 23,051.08 points, and the expanded Topix index closed up 0.06% at 1,610.85 points.

The market barometer has remained cautious, investors watching for Chinese reactions to American hardening against the Chinese technology giant Huawei, described as a “spy” by Donald Trump.

The United States has banned 38 international subsidiaries of Huawei in order to limit their access to American technologies, the United States Department of Commerce said on Monday.

“Investors are also worried about the deadlock in discussions in Congress on a new aid plan, although an agreement is still expected sooner or later,” noted Toshikazu Horiuchi, broker at IwaiCosmo Securities, interviewed by AFP.

Trade also remained limited, analysts said, pending the publication scheduled for Wednesday by the US Federal Reserve of the minutes of its last monetary policy meeting, which should provide information on the outlook for the coming months.

On the side of values

NINTENDO ON THE RISE: The title of the Japanese video game giant gained 2.48% during the session, to 52,830 yen.

On the currency and oil side

The yen rallied against the dollar, with a dollar worth 105.48 yen around 6:50 a.m. GMT, against 106.00 yen on Monday at 9 p.m. GMT.

The European currency also fell against the yen, a euro worth 125.47 yen against 125.83 yen the day before.

The greenback fell against the euro, with one euro trading for $ 1.1896 against $ 1.1870 on Monday at 9:00 p.m. GMT.

Oil prices were down after ending in the green on Monday, as OPEC + members are due to meet on Wednesday and are expected to decide whether or not to maintain the planned pace of easing their black gold production cuts , set up in May in response to the drop in demand caused by the pandemic.

Around 06:50 GMT the price of a barrel of US crude WTI lost 0.58% to 42.64 dollars and that of a barrel of Brent from the North Sea fell by 0.46% to 45.16 dollars.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.