Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Tokyo stocks fall to 1-1/2-week low on worse-than-expected GDP

Published 02/17/2020, 11:44 AM
Updated 02/17/2020, 11:48 AM
Tokyo stocks fall to 1-1/2-week low on worse-than-expected GDP

TOKYO, Feb 17 (Reuters) - Japanese shares slid to a
1-1/2-week low on Monday, hurt by a weaker-than-expected gross
domestic product (GDP) reading for the December quarter, while
worries about the economic impact of the coronavirus epidemic
continued to weigh on the market.
The Nikkei average .N225 fell 0.6% to 23,537.03 by the
midday break, its lowest level since Feb. 5, while the broader
Topix .TOPX dropped 0.9% to 1,688.29, also a 1-1/2-week low.
All but two of the 33 sector sub-indexes on the Tokyo Stock
Exchange were trading lower, with air transport .IAIRL.T , sea
transport .ISHIP.T and metal products .IMETL.T being the
worst three performers.
Japan's economy contracted at an annualised pace of 6.3% in
October-December period, shrinking at the fastest pace in almost
six years, government data showed, highlighting a fragile
outlook made worse by growing coronavirus risks. Economists'
median estimate was for a 3.7% contraction. "We all knew that the figures were going to be weak, but the
actual numbers were still shocking," traders said.
Denting sentiment further were fears about a global economic
fallout from the virus, with new cases in mainland China rising
to 2,048 as on Sunday from 2,009 the previous day. Among stocks, Kirin Holdings Co Ltd 2503.T tumbled 7.3%
after the brewer posted a net profit of 59.6 billion yen ($543
million) for the year-ended December, down 63.7% from a year
earlier. The firm also opposed a UK-based activist's proposal to
buy treasury shares worth 600 billion yen.
Nissan Motor Co Ltd 7201.T slid 2.0% to its lowest in
nearly 11 years, after losing 9.6% on Friday, as its French
partner Renault RENA.PA posted its first annual loss in a
decade. = 109.8200 yen)

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.