August 29, 2019 / 1:34 AM / 10 months ago

Japan's Nikkei dips; lift from Wall St fades as economy concerns linger

TOKYO, Aug 29 (Reuters) - Japan’s Nikkei share average dipped on Thursday, with an earlier bounce made on Wall Street gains fading amid lingering concerns that trade conflicts and political risks would hurt the global economy.

The Nikkei was down 0.4% at 20,397.28 as of 0127 GMT.

There were 72 advancers on the Nikkei index against 143 decliners.

The index rose as much as 0.2% in early trade after all three of the major U.S. stock indexes posted gains overnight.

But the Nikkei’s rise sputtered on underlying concerns towards another flare-up in the U.S.-China trade war and latest developments in the Brexit saga pointing to fresh turbulence in the financial markets ahead.

Of Tokyo’s 33 subindexes, 27 were in the red. Services , sensitive to shifts in economic prospects, led the decliners.

Staffing services company Recruit Holdings Co retreated 7.6% after it announced plans to sell approximately 7.16% of its outstanding shares through a secondary offering.

Suzuki Motor Corp gained 1.1% with the carmaker announcing a capital tie-up with Toyota Motor Corp.

Shares of Toyota, which will pay around 96 billion yen ($910.90 million) for a 4.94% stake in Suzuki, were down 0.2%.

The broader Topix slipped 0.46% to 1,483.49.

The stocks that gained the most among the top 30 core Topix names were Takeda Pharmaceutical Co up 1.16 %, followed by SoftBank Group Corp.

The underperformers among the Topix 30 were Recruit Holdings Co. ($1 = 105.3900 yen) (Editing by Simon Cameron-Moore)

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