September 4, 2018 / 7:05 AM / 9 months ago

Nikkei edges lower as trade concerns dampen risk appetite

* Losers outnumber gainers

* Pigeon Corp jumps on strong profit; Ito En dives

By Ayai Tomisawa

TOKYO, Sept 4 (Reuters) - Japan’s Nikkei edged lower in choppy trade on Tuesday as lingering global trade concerns saw investors staying on the sidelines.

The Nikkei share average ended 0.1 percent lower at 22,696.90, after switching frequently between positive and negative territory.

U.S. President Donald Trump gave fresh impetus to trade worries at the weekend when he said there was no need to keep Canada in the North American Free Trade Agreement and warned Congress not to meddle with the trade talks.

With the U.S. markets closed on Monday for a holiday, investors chose to stay on the sidelines, analysts said.

“People are focusing on whether Wall Street opens higher amid trade concerns. Emerging market currencies are unstable. Such external factors are dampening the mood,” said Yutaka Miura, a senior technical analyst at Mizuho Securities.

He added that investors are waiting for a raft of U.S. economic data including ISM non-manufacturing index and jobs due this week.

Baby bottle maker Pigeon Corp gained 3.2 percent after net profit for the February-July period jumped 25 percent from a year earlier.

Department store operator Matsuya Co added 5.6 percent after its August same-store sales rose 6.9 percent due to brisk sales in women’s accessories such as sunglasses and umbrellas.

Tea beverage drink maker Ito En dived 8.8 percent after it reported a 7.1 percent drop in net profit for May-July.

Declining issues outnumbered advancing ones 1,169 to 838.

The broader Topix edged 0.1 percent lower to 1,718.24. (Reporting by Ayai Tomisawa; Editing by Vyas Mohan)

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