AFP, Tokyo :
Tokyo stocks fell 0.37 percent Friday as worries over China’s economic outlook weighed on the market, ahead of what are expected to be downbeat Japanese GDP figures next week.
The Nikkei 225 at the Tokyo Stock Exchange slipped 76.10 points to 20,519.45, while the Topix index of all first-section shares declined 0.21 percent, or 3.49 points, to 1,664.46.
China’s central bank slightly raised the value of its yuan currency Friday against the US dollar, ending three days of falls after a surprise devaluation this week sent financial markets into a tailspin.
The stronger fixing for the yuan came after the People’s Bank of China reassured financial markets by pledging to seek a stable currency after a shock cut of nearly two percent on Tuesday.
But investors continued to fret about the fallout for the Japanese economy and shares in companies with exposure to China have been hit hard in Tokyo this week.
“While CNY (yuan) devaluation may be paused for the moment, it is still quite likely to see further declines over the coming months,” said Angus Nicholson at IG Markets.
“These concerns are still weighing on the Nikkei.”
Investors were now focusing on Japanese GDP figures for the three months to June, scheduled to be released on Monday, after stronger-than-expected growth in the first quarter.
The 1.0 percent expansion in January-March-or 3.9 percent on an annualised basis-was sharply up from an initial estimate of 0.6 percent growth.
But economists have warned that tepid data since pointed to a marked slowdown during the latest quarter.
In Tokyo share trading, Toyota was flat at 7,945 yen and Fuji Heavy Industries jumped 1.69 percent to 4,660 yen, while Mazda slipped 0.66 percent to 2,394.5 yen.
The three companies were reportedly affected by huge explosions in Tianjin, China, that left 50 dead.
Market heavyweight Fast Retailing, which operates the Uniqlo chain, fell 0.94 percent to 54,990 yen.
In currency markets, the dollar traded at 124.36 yen against 124.43 yen in New York.
ATHENS, Aug 14, 2015 (BSS/AFP) – Greek Prime Minister Alexis Tsipras warned Friday that a German proposal to give his debt-ridden country a bridging loan rather than agree a new bailout would be “a return to a crisis without end”.
Tokyo stocks fell 0.37 percent Friday as worries over China’s economic outlook weighed on the market, ahead of what are expected to be downbeat Japanese GDP figures next week.
The Nikkei 225 at the Tokyo Stock Exchange slipped 76.10 points to 20,519.45, while the Topix index of all first-section shares declined 0.21 percent, or 3.49 points, to 1,664.46.
China’s central bank slightly raised the value of its yuan currency Friday against the US dollar, ending three days of falls after a surprise devaluation this week sent financial markets into a tailspin.
The stronger fixing for the yuan came after the People’s Bank of China reassured financial markets by pledging to seek a stable currency after a shock cut of nearly two percent on Tuesday.
But investors continued to fret about the fallout for the Japanese economy and shares in companies with exposure to China have been hit hard in Tokyo this week.
“While CNY (yuan) devaluation may be paused for the moment, it is still quite likely to see further declines over the coming months,” said Angus Nicholson at IG Markets.
“These concerns are still weighing on the Nikkei.”
Investors were now focusing on Japanese GDP figures for the three months to June, scheduled to be released on Monday, after stronger-than-expected growth in the first quarter.
The 1.0 percent expansion in January-March-or 3.9 percent on an annualised basis-was sharply up from an initial estimate of 0.6 percent growth.
But economists have warned that tepid data since pointed to a marked slowdown during the latest quarter.
In Tokyo share trading, Toyota was flat at 7,945 yen and Fuji Heavy Industries jumped 1.69 percent to 4,660 yen, while Mazda slipped 0.66 percent to 2,394.5 yen.
The three companies were reportedly affected by huge explosions in Tianjin, China, that left 50 dead.
Market heavyweight Fast Retailing, which operates the Uniqlo chain, fell 0.94 percent to 54,990 yen.
In currency markets, the dollar traded at 124.36 yen against 124.43 yen in New York.
ATHENS, Aug 14, 2015 (BSS/AFP) – Greek Prime Minister Alexis Tsipras warned Friday that a German proposal to give his debt-ridden country a bridging loan rather than agree a new bailout would be “a return to a crisis without end”.
