July 12, 2017 / 3:05 AM / a year ago

Nikkei slips after exporters fall on profit-taking

* Sapporo tumbles after media report on earnings

* US political news has limited impact on Japan market -analyst

By Ayai Tomisawa

TOKYO, July 12 (Reuters) - Japan’s Nikkei share average slid on Wednesday morning as stocks of exporters were sold after the dollar fell against the yen in the wake of a new controversy for U.S. President Donald Trump’s administration.

The Nikkei shed 0.3 percent to 20,131.06 in mid-morning trade.

Exporters, which gained over the past few days on hopes for better earnings helped by a weaker yen, lost ground on profit-taking.

Advantest Corp dropped 0.6 percent, Tokyo Electron Ltd declined 1.0 percent and Toyota Motor Corp 1.0 percent after the dollar slipped 0.2 percent to 113.675 yen , moving away from a four-month high of 114.495 yen on Tuesday.

Trump’s eldest son eagerly agreed last year to meet a woman he was told was a Russian government lawyer who might have damaging information about Democratic White House rival Hillary Clinton as part of Moscow’s official support for his father, according to emails released on Tuesday.

Japanese analysts said the impact from the political turmoil in Washington on the Japanese stock market is likely to be limited.

“Investors are not that frustrated with the political event in Washington after they saw that Wall Street seemed to have digested it before the market open in Asia,” said Yutaka Miura, a senior technical analyst at Mizuho Securities.

He added that investors looked ahead to U.S. Federal Reserve Chair Janet Yellen’s comments later in the day.

U.S. Senate Republican leader Mitch McConnell announced a two-week delay in the Senate’s August recess to provide more time to work on legislation and approve nominees, signaling prospects of progress on the Republican agenda.

Some Tokyo stocks were in the spotlight on individual news about their earnings.

Women’s wear company Honeys Holdings soared 9.5 percent and was the sixth biggest gainer on the board after it forecast a 30.5 percent increase in operating profit for the year through March 2018.

But Sapporo Holdings dropped more than 3 percent after the Nikkei business daily reported that the brewer’s January-June operating profit likely was a little bit over 3 billion yen, falling short of about 4 billion yen that the market has expected.

The broader Topix dropped 0.4 percent to 1,621.45. (Editing by Richard Borsuk)

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