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Nikkei little changed as investors await U.S. tariffs decision

Published 12/12/2019, 10:06 AM
Updated 12/12/2019, 10:08 AM
Nikkei little changed as investors await U.S. tariffs decision
JP225
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SOX
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TOPX
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7735
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8035
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3436
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6857
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IMCHN.T
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TOPXS
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TOKYO, Dec 12 (Reuters) - Japan's Nikkei share average was
little changed on Thursday as investors waited to see if the
United States will delay its Dec. 15 tariffs on imports from
China.
The Nikkei share average .N225 fell 0.02% to 23,386.48 by
0055 GMT after opening slightly higher. The broader Topix
.TOPX shed 0.25% to 1,710.61, dented by a fall of 0.5% in
small-cap shares .TOPXS .
The benchmark index has been in a holding pattern since
early November, hovering below 23,600 — increasingly seen as a
major resistance.
U.S. President Donald Trump is expected to meet with top
trade advisers on Thursday to discuss the planned Dec. 15
tariffs on some $160 billion in Chinese goods, three sources
familiar with the plans said. Although the market has been underpinned by some hopes of a
Sino-U.S. trade deal, investors worry that negotiations could
come under a cloud if the tariffs kick in this weekend.
The market received some support from a relatively dovish
stance by the U.S. Federal Reserve. The central bank held
interest rates steady and signalled borrowing costs will not
change anytime soon. Semiconductor-related shares were the brightest spot
following their peers' strong showing on the Wall Street. The
Philadelphia semiconductor index .SOX rose 2.2% overnight to a
record high.
The top four gainers on the Nikkei were all chip-related
shares. Tokyo Electron 8035.T rose 3.6%, Sumco 3436.T gained
3.1%, Screen Holdings advanced 2.7% 7735.T and Advantest
6857.T added 2.6%.
Machinery makers .IMCHN.T gained 0.3% despite weak reading
on Japan's machinery orders data.
Core machinery orders fell 6% in October, the fourth
consecutive month of decline, way below expectations of a small
gain, raising concerns capital spending may be losing momentum.

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