country flagالعربية

Japans Nikkei index decline to mid October levels

2018-03-05 07:22 am | Resource: NEWS | No Views : 232

The Nikkei average fell to an unwelcome level since mid-October as it fell for a fourth day on fears of a global trade war that hit car makers and shipping companies.

The Nikkei fell 0.7 percent to 21,042.09 after the yen gained safe haven flows as risk sentiment fell on expectations that trading partners would take revenge if US President Donald Trump pressed the proposed tariffs on imported steel and aluminum.

Small stocks were also sold as traders pointed to speculators selling on the assumption that the weakness of the market would last for a while, and the index fell 2.9 percent to a 2-1 / 2-week low of 3471.02.

Steel shares fell again as Nippon Steel and Sumitomo Metal fell 1.8 percent, GBI Holding fell 2.5 percent and Kobe Steel fell 1.5 percent.

Automobile manufacturers, major consumers of steel and aluminum also lost, Honda Motor dropped 2.1 percent, Toyota Motor fell 1.5 percent, Mitsui Osaka fell 1.9 percent and Kawasaki Kissin lost 2.0 percent.

As the dollar fell for a fourth straight session, investors began to worry that Japanese exporters would have to lower their US dollar assumptions for the next fiscal year, which would affect their earnings forecasts.

Other analysis

NASDAQ Technical Analysis 10 December 2018

Time frame Used - four hours The NASDAQ 100 is moving in a bearish direction in the near term. The bears managed to control the movement of the NASDAQ 100 index to retreat to the 6590 level as it faced resistance and selling pressure around the important resistance level of  7100 which pushed it back down again. In view of the technical indicators Both the RSI and Stochastic are indicating…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.