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  HOME | Business & Economy (Click here for more)

Tokyo Stocks Dragged Down by US-Japan Trade Talks

TOKYO Shares on the Tokyo stock exchange fell on Friday, dragged down by expectations surrounding ongoing talks between Japan and the United States for a bilateral free trade agreement.

The Nikkei index closed on Friday with a decrease of 300.31 points, or 1.33 percent, to stand at 22,298.08 units while the broader-based Topix lost 20.00 points, or 1.15 percent to 1,720.16 units.

The Tokyo exchange recorded its biggest drop in recent weeks amid caution due to the results of the first round of trade talks between representatives of Japan and the US in Washington, which began on Thursday.

Shares of electronic components and semiconductors manufacturers, Tokyo Electron, Advantest and Screen Holdings, declined 3.5 percent, 4.9 percent and 3.9 percent respectively.

However, the downward trend did not affect camera, medical equipment and cosmetics manufacturer Fujifilm Holdings, whose shares rose 3.5 percent after the company announced on Thursday a share buyback plan of up to 100 billion yen.

Trade volume rose to 2.62 trillion yen ($23.62 billion), up from the 2.54 trillion yen a day earlier.

 

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