Japan stocks wobble as US data stokes recession fears, but Nintendo jumps [Reuters]
FAST RETAILING UNSP/ADR (FRCOY)
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Source: Reuters
Japan stocks wobble as US data stokes recession fears, but Nintendo jumps TOKYO, Sept 4 (Reuters) - Japan’s Nikkei share average struggled for traction on Wednesday and the broader Topix dipped after weak U.S. economic data stoked fears of a global recession and soured investor sentiment. The benchmark Nikkei average ended up 0.12% at 20,649.14 points, while the broader Topix dropped 0.26% to 1,506.81. U.S. manufacturing activity contracted for the first time in three years in August, with new orders and hiring declining sharply as trade tensions weighed on business confidence, data showed on Tuesday. Cyclical sectors came under pressure, with metal products , iron and steel among worst performing sectors on the Topix. “The weak U.S. ISM data underscored the view that a recession is highly probable. Global investors are preparing for it in a sombre manner,” said Yasuo Sakuma, chief investment officer at Libra Investments. Nikkei heavyweight Fast Retailing gained 0.9% after the clothin
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