Nikkei falls on caution on U.S.-China trade talks, earnings disappointments
Wednesday, 31 July 2019 10:14 WIB | MARKET UPDATE |Nikkei 225Saham Jepang

Japanese shares slid on Wednesday, hurt by U.S. President Donald Trump warning China against dragging out trade talks while disappointing earnings hit Nintendo and banks.

The Nikkei share average fell 0.92% to 21,510.40 while the broader Topix lost 0.71% to 1,564.40 as investors cautiously awaited the U.S. Federal Reserve™s policy meeting later in the day.

With Japan™s earnings season in full swing, reactions to earnings dominated trading.

Nintendo Co Ltd fell 3.4% after the game maker reported its operating profit fell 10% in the three months to June, below market expectations, despite stronger sales of its Switch console.

Sumitomo Mitsui Trust Holdings fell 3.8% and Sumitomo Mitsui Financial declined 0.8% as both financial groups reported falls in first-quarter profits.

Source: Reuters

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