Japanese actions slide over concerns of a longer trade war

TOKYO, Dec. 4 (Reuters) - Japan's average Nikkei shares fell to their lowest level in about two weeks on Wednesday, as hopes for a rapid initial agreement between the United States and China eased after the president’s comments from the United States, Donald Trump, while a stronger yen affected appetite in the country exporters The Nikkei 225 index fell 1.24% to 23,089.21 and fell below its 25-day moving average of 23,253, a key technical support. Somehow, I like the idea of ​​waiting until after the elections for the agreement with China. But they want to reach an agreement now, and we'll see if the agreement is going to be right or not; It has to be right, Trump told reporters in London on Tuesday, where he was to attend a meeting of NATO leaders. The yen has strengthened more than 1% in the last 48 hours. As a result, the shares of exporters, such as the manufacturer of electronic parts Murata Manufacturing, fell 2.4%, the manufacturer of industrial robots Fanuc fell 1.6% and Honda Motor lost 1.1%. Among other actions, Astellas Pharma fell 2.6%, extending its decline after announcing the acquisition of US drug manufacturer Audentes Therapeutics Inc for a premium of 110%. The rapid retail sale fell 4.9% after the operator of the casual clothing chain Uniqlo reported weak domestic sales in November. The fall was enough to cut 110 points, or 0.5 percentage points, of the Nikkei. The wider Topix lost 0.55% to 1,697.37, a slightly better performance than the others in the region. Most major indexes lost more than 1%. Around 31% of all the shares listed on the main board of the Tokyo Stock Exchange rose, mainly led by actions oriented to the domestic market. Investors generally transfer money to such sectors when there are concerns about global growth. Toiletries manufacturer Kao Corp rose 0.5%, while many utilities also won, including Tokyo Electric Power, Chubu Electric Power and Osaka Gas, which rose 2.3%, 1.2% and 0.8% respectively. (Tokyo Markets team reports; edition of Uttaresh.V) This story has not been edited by The Times of India and is automatically generated from a syndicated feed to which we subscribe. (This story has not been edited by timesofindia.com and is automatically generated from a syndicated feed to which we subscribe.)

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