Nikkei edges down on China manufacturing data, Apple suppliers underperform

lunes 3 de agosto de 2015 23:00 GYT
 

* Soft U.S. and China data keeps sentiment cautious

* Investors snatch up drugmakers and other defensive shares

* Apple suppliers hardest hit, airlines fly high

* Focus on earnings and U.S. jobs data

By Hideyuki Sano

TOKYO, Aug 4 (Reuters) - Japan's Nikkei share average edged down on Tuesday on soft manufacturing data from China and the United States, prompting investors to rotate out of cyclical shares to defensive shares such as drugmakers.

Suppliers to Apple Inc tumbled as the tech giant's shares hit six-month lows, continuing a downward trend in place since its earnings two weeks ago. TDK Corp fell 4.7 percent while Taiyo Yuden fell 3.6 percent.

Manufacturing conditions in China deteriorated to their worst in two years in July, data showed on Monday, triggering fresh slides in global commodity prices.

"When the Chinese economy is slowing down, there will be a fairly big impact on the production of durable goods. Investors are trying to gauge the impact as there is no evidence of that in the data yet," said Tetsuro Ii, president of Commons Asset Management.   Continuación...