Market Strategists: Wall Street and Section Issues

market strategists: The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, edged 0.63 point, or 0.04 percent, higher to finish at 1,541.21, according to Global Times China. Trading here inherited a negative tone from Wall Street's overnight sell-off, as investors switched out of riskier assets and into safe havens, amid growing concerns over global trade issues and the potential impact on the course of the world economy, market strategists here said. The 225-issue Nikkei Stock Average lost 33.92 points, or 0.16 percent, from Thursday to close the day at 21,117.22. The market mood was further dragged down by data released by global research firm IHS Markit showing that business activity growth had faltered in the eurozone, United States and Japan. Also helping to cap losses was investors switching to domestic-demand driven issues that are not exposed to macroeconomic turbulence, such as cyclical issues, traders here said. Losses were trimmed in later trade, however, as the yen retreated against the US dollar, which is always a boon for exporters as they rely on a weaker yen to boost profits when repatriated and stay competitive in overseas markets, local equity analysts highlighted. (news.financializer.com). As reported in the news.