SEVERE WX : Severe Thunderstorm Warning View Alerts

Japanese stocks join global sell-off after Apple China warning

Japan is playing catch-up in the global stocks rout.The country's ...

Posted: Jan 4, 2019 12:35 PM
Updated: Jan 4, 2019 12:35 PM

Japan is playing catch-up in the global stocks rout.

The country's Nikkei index dropped 2.3% Friday, in the market's first day of trading following the New Year break.

Banking, finance and investments

Business, economy and trade

Financial markets and investing

Securities trading

Stock markets

Economic indicators

Economy and economic indicators

Stock indexes

Asia

Continents and regions

East Asia

Japan

Apple Inc

China

Companies

The losses came on the back of a 660-point fall in the Dow Thursday, after Apple (APPL) warned it will badly miss its quarterly sales forecast because of weakening growth in China.

"For Japanese markets, the return from the New Year's day holidays has been bitter," said Jingyi Pan, a Singapore-based market strategist at broker IG Group.

Among the stocks hit in Tokyo were Apple suppliers Sharp (SHCAY) — which fell more than 4% — and Kyocera (KYOCY), which fell nearly 2%.

Apple, among the world's most widely held stocks, on Thursday plummeted 10% in its darkest day in six years.

The news sent shudders through global markets. The Nasdaq plunged 3%, closing back in bear market territory. The S&P 500 shed 2.5%, led lower by tech and industrial stocks. The market ended near the lows of the day.

Elsewhere in Asia, Hong Kong's Hang Seng and China's Shanghai Composite were up between 1% and 2% in afternoon trading. That followed a statement from China's Commerce Ministry that a US government delegation would resume trade talks in China early next week.

The announcement "bucked the trend of negative news" on China this week, said David Madden, an analyst at broker CMC Markets.

Dismal run

Like many other major markets, Japanese stocks are on a dismal run. The Nikkei fell about 15% last year, more than double the loss of the Dow in 2018.

Traders may also have been spooked by movements in the yen Thursday, when the Japanese currency unexpectedly rose sharply against the dollar. A stronger yen is often bad for Japanese stocks, because it can hurt corporate earnings in the country's large export sector.

Investors may find little comfort in the strength of Japan's economy.

Japan until recently enjoyed its longest streak of economic growth in decades, but the economy started to sputter in 2018. It shrank at an annualized rate of 1.2% in the third quarter of last year. That's despite years of unorthodox monetary policies aimed at stimulating growth.

The world's third-biggest economy faces serious challenges, including a rapidly aging population, a lack of women in the workforce and stubbornly low inflation.

An anticipated rise in consumption tax later in 2019 could also weigh on the Japanese economy.

West Lafayette
Broken Clouds
71° wxIcon
Hi: 89° Lo: 66°
Feels Like: 71°
Kokomo
Clear
66° wxIcon
Hi: 85° Lo: 64°
Feels Like: 66°
Rensselaer
Clear
70° wxIcon
Hi: 73° Lo: 64°
Feels Like: 70°
Fowler
Clear
70° wxIcon
Hi: 84° Lo: 64°
Feels Like: 70°
Williamsport
Overcast
65° wxIcon
Hi: 88° Lo: 65°
Feels Like: 65°
Crawfordsville
Overcast
63° wxIcon
Hi: 85° Lo: 65°
Feels Like: 63°
Frankfort
Overcast
67° wxIcon
Hi: 86° Lo: 65°
Feels Like: 67°
Delphi
Clear
69° wxIcon
Hi: 88° Lo: 66°
Feels Like: 69°
Monticello
Clear
69° wxIcon
Hi: 82° Lo: 64°
Feels Like: 69°
Logansport
Clear
64° wxIcon
Hi: 83° Lo: 64°
Feels Like: 64°
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 50300

Reported Deaths: 2748
CountyConfirmedDeaths
Marion11920692
Lake5432248
Elkhart347058
Allen2902133
St. Joseph205169
Hamilton1665101
Cass16449
Hendricks1446100
Johnson1325118
Porter80238
Tippecanoe7599
Clark68144
Vanderburgh6816
Madison67264
LaPorte60527
Howard59458
Bartholomew59345
Kosciusko5704
Marshall5308
Noble50128
LaGrange4829
Jackson4783
Boone47444
Delaware46952
Hancock46036
Shelby43525
Floyd40444
Morgan33631
Monroe32928
Grant30926
Dubois2976
Henry29717
Montgomery29720
Clinton2893
White26810
Decatur25532
Dearborn25423
Lawrence25225
Vigo2478
Warrick24329
Harrison21722
Greene19332
Miami1922
Jennings17912
Putnam1728
DeKalb1674
Scott1639
Wayne1536
Daviess15017
Perry1459
Orange13723
Steuben1362
Jasper1332
Franklin1278
Ripley1277
Wabash1152
Carroll1132
Gibson1132
Fayette1057
Whitley1045
Newton10010
Starke983
Huntington932
Randolph794
Wells791
Jefferson782
Fulton731
Jay680
Washington681
Knox670
Clay665
Pulaski661
Rush613
Posey550
Owen521
Benton510
Spencer501
Adams491
Sullivan471
Brown431
Blackford402
Fountain352
Crawford330
Tipton321
Switzerland300
Martin240
Parke230
Ohio220
Vermillion200
Warren151
Union130
Pike110
Unassigned0193

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events