U.S.-China trade tensions hit Japanese robot, construction stocks

Reuters | May 16, 2019 at 5:58 AM
  • Shares of Japanese automation machinery makers, construction firms and suppliers to Apple Inc. have borne the brunt of recent selling in the country’s stock market after an escalation in U.S.-Sino trade tensions.
  • Adding to the pressure on Asian equity markets, surprisingly weak Chinese data on Wednesday pointed to slower growth in the world’s second-largest economy, a big market for Japan.
  • Komatsu expects a 15.3% drop in operating profit for this fiscal year due to weak sales from such regions as China and North America for its construction, mining and utility equipment.