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CORRECTED-Japan's Nikkei touches over one-month low on China worries
Oggi 08:08 - RSF
(Corrects to one-month low from two-month low in headline and paragraph 1)
TOKYO, Aug 16 (Reuters) - Japan's Nikkei share average touched a more than one-month low on Wednesday as China's economic outlook weighed on risk appetite, while banking shares slid after a report on a possible downgrade of U.S. major banks.
The Nikkei index
The broader Topix
"Concerns grew over the global economy as outlook of one of the two biggest economies in the world is dim. This has impacted Japanese shares at a time when we are not seeing much market moving cues in Japan," said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.
A broad array of Chinese data on Tuesday highlighted intensifying pressure on the economy from multiple fronts, prompting Beijing to cut key policy rates to shore up activity.
"The report on the Fitch downgrade on U.S. banks has also hurt risk appetite," Kamada added.
The banking index
peers, including JPMorgan Chase and Bank of America , fell after a report said ratings agency Fitch could downgrade multiple U.S. banks.
Mitsubishi UFJ Financial Group fell 2.41%, Sumitomo Mitsui Financial Group lost 1.41% and Mizuho Financial Group slipped 1.71%.
Uniqlo brand owner Fast Retailing lost 1.17% to become the biggest drag on the Nikkei. Technology investor SoftBank Group slipped 2.83% and chip-making equipment maker Tokyo Electron lost 0.8%.
Energy-related shares fell, with refiners
Chip-testing equipment maker Advantest rose 1.02% to provide the biggest support to the Nikkei.
(Reporting by Junko Fujita; Editing by Rashmi Aich)
(([email protected]
)
Oggi 08:08 - RSF
(Corrects to one-month low from two-month low in headline and paragraph 1)
TOKYO, Aug 16 (Reuters) - Japan's Nikkei share average touched a more than one-month low on Wednesday as China's economic outlook weighed on risk appetite, while banking shares slid after a report on a possible downgrade of U.S. major banks.
The Nikkei index
The broader Topix
"Concerns grew over the global economy as outlook of one of the two biggest economies in the world is dim. This has impacted Japanese shares at a time when we are not seeing much market moving cues in Japan," said Shigetoshi Kamada, general manager at the research department at Tachibana Securities.
A broad array of Chinese data on Tuesday highlighted intensifying pressure on the economy from multiple fronts, prompting Beijing to cut key policy rates to shore up activity.
"The report on the Fitch downgrade on U.S. banks has also hurt risk appetite," Kamada added.
The banking index
peers, including JPMorgan Chase and Bank of America , fell after a report said ratings agency Fitch could downgrade multiple U.S. banks.
Mitsubishi UFJ Financial Group fell 2.41%, Sumitomo Mitsui Financial Group lost 1.41% and Mizuho Financial Group slipped 1.71%.
Uniqlo brand owner Fast Retailing lost 1.17% to become the biggest drag on the Nikkei. Technology investor SoftBank Group slipped 2.83% and chip-making equipment maker Tokyo Electron lost 0.8%.
Energy-related shares fell, with refiners
Chip-testing equipment maker Advantest rose 1.02% to provide the biggest support to the Nikkei.
(Reporting by Junko Fujita; Editing by Rashmi Aich)
(([email protected]
)
