Nikkei drops as U.S.-China trade tensions hit tech shares [Reuters]
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Source: Reuters
Nikkei drops as U.S.-China trade tensions hit tech shares - Reuters 2 Min Read * Daiichi Sankyo turns positive on hopes for its OTC business sale * SoftBank Group dives more than 5% By Ayai Tomisawa TOKYO, May 23 (Reuters) - Japan’s Nikkei dropped on Thursday after renewed U.S.-China trade tensions dragged down technology shares, while index-heavyweight SoftBank Group fell more than 5 percent. The Nikkei share average ended 0.6% lower at 21,151.14. Tech shares were sold heavily after media reports on Wednesday said the United States was considering sanctions on video surveillance firm Hikvision. TDK Corp dived 6.5%, Advantest Corp declined 2.6%, Tokyo Electron shed 2.5%, and Sony Corp slid 3.7%. “Investors are worried that the U.S. may put restrictions on more companies in the future, not just Huawei and Hikvision,” said Takuya Takahashi, a strategist at Daiwa Securities. “If that happens, the market will grow more concerned that growth in a new industry such as 5G will be hampered.”
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