Nikkei Falls to Two-Week Low as Apple Warning Hurts Technology Stocks
Tuesday, 18 February 2020 10:11 WIB | MARKET UPDATE |Indeks NikkeiIndeksTopixSaham Jepang

Japanese stocks fell to two-week low on Tuesday, dragged down by tech companies after Apple Inc warned it was unlikely to meet its sales target for the March quarter as the coronavirus outbreak hurt production and demand in China.

The Nikkei average fell 1.2% to 23,237.44 points by the midday break, its lowest level since Feb. 4, and the broader Topix dropped 1.2% to a two-week low of 1,667.72.

All but one of the 33 sector sub-indexes on the Tokyo Stock Exchange were trading lower, with precision machinery , metal products and electric machinery being the worst three performers.

Apple told investors late on Monday that its manufacturing facilities in China that produce iPhone and other electronics have begun to re-open, but are ramping up slower than expected.

Source : Reuters

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