Nikkei fell ahead of US-Japan talks

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Nikkei fell ahead of US-Japan talks

August 09, 2018 - 10:45
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Japan’s Nikkei is falling on Thursday, Reuters reports. Strengthening yen reduced risk appetite of investors, while news on improper testing of vehicles by some auto producers resulted in shares selloff in auto sector.

Tokyo, Japan | © Chihiro Sakai, CC0 1.0

Japan’s Nikkei is falling on Thursday, Reuters reports. Strengthening yen reduced risk appetite of investors, while news on improper testing of vehicles by some auto producers resulted in shares selloff in auto sector.

Mazda Motor Corp, Suzuki Motor Corp and Yamaha Motor Co submitted reports to Japan’s Ministry of Transport mentioning that companies performed improper testing of their cars on fuel economy and emissions.

Shares of Mazda fell by 1,3%, shares of Suzuki by 6%, and Yamaha shares by 4,6%. Nikkei lost 0,2% and dropped to the level of 22598,39.

Due to trade tensions ahead of US-Japan talks that will take place on Thursday, yen grew to the highest level to dollar in nine days. During negotiations Japan will try to avoid steep tariffs on export cars and high demands to bilateral agreement on free trade.

Topix fell 0,3% to level 1740,16.