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Stock impact report

Nikkei drops on profit taking in cyclical stocks; financials ease [Reuters]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Reuters
Nikkei drops on profit taking in cyclical stocks; financials ease | Reuters 3 Min Read * Banks, insurers underperform on falling U.S. yields * Companies with high exposure to China lose ground * Pigeon Corp tumbles after keeping full-year forecast By Ayai Tomisawa TOKYO, Dec 4 (Reuters) - Japan’s Nikkei fell on Tuesday morning as investors took profits on cyclical stocks that rallied the day before, while falling U.S. bond yields pressured financial companies. The Nikkei share average fell 0.7 percent to 22,418.87 by the midday break, after rising to a two-week high on Monday as investors took heart after the United States and China suspended the imposition of new tariffs on the weekend. Analysts said that the market had priced in the Sino-U.S. trade truce and was looking to more events ahead, such as the U.S. Federal Reserve’s policy meeting later this month. “Putting off trade talks served as a positive catalyst to the market, but the market moved past it quicky,” said Katsuhiko Nak Show less Read more
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