Tuesday, Oct 24 2017 | Time 17:05 Hrs(IST)
image
  • Families returning to ruined Philippine city taught to identify bombs
  • Karnataka organizes Roadshow on Intl Trade Fair from Jan 19
  • Saudi determined to end oil glut, sees smooth exit for OPEC pact
  • Saudi Aramco IPO never been linked to oil market - CEO on TV
  • Poland's PM Szydlo to reshuffle cabinet soon
  • Panacea Biotec gets USFDA nod to launch Prasugrel tablets
  • Apex court stays recruitment process of 12000 non-teaching staff in Tripura
  • Pressure on as Xi's 'Belt and Road' enshrined in Chinese party charter
  • Sensex up by 100.62 pts
  • Asian Paints rises by 4.10 pc to Rs 1220.50
  • Reliance Nippon Life Q2 individual new business up by 3 percent
  • Reference rate fixed at 64.9256 against USD
  • FM ARUN JAITLEY ANNOUNCES ROAD AHEAD FOR COUNTRY'S ECONOMY
  • US visit: Shivraj Singh Chouhan focuses on integral humanism, urges not to misuse nature
  • Madras HC bans use of pictures of living persons in banners, hoardings
World Share

Nikkei falls to 1-1/2-week low as financials weaken; Softbank down

TOKYO, March 21 (Reuters) Japan's Nikkei share average fell to a 1-1/2-week low on Tuesday morning as financial stocks were battered after U.S. yields fell, while index-heavyweight SoftBank tumbled and weighed on the index.
The Nikkei dropped 0.5 percent to 19,432.71 in midmorning trade after a public holiday on Monday. Earlier, it hit as low as 19,337.22, the lowest level since March 9.
Financial stocks lost ground after U.S. yields rose as Chicago Federal Reserve President Charles Evans reinforced the perception that the U.S. central bank won't accelerate the pace of its interest rate hikes.
Evans' public comments were among the first since the U.S. central bank lifted its policy rate a notch last week, as expected.
"Participants in the Japanese market have become cautious again and their wait-and-see stances will likely last until the next U.S. rate hike," said Kazuhiro Takahashi, an equity strategist at Daiwa Securities.
That said, he also said that markets may find short-term catalysts from Japan Inc.'s earnings forecasts for the next fiscal year, which will be out in early May when companies report their full-year earnings for the year ended March 2017.
SoftBank Group Corp dropped 2.2 percent and contributed a hefty negative 21 points to the Nikkei index after the Wall Street Journal reported that the company scrapped a planned $100 million investment in a smartphone startup founded by the creator of Google's Android software, citing people familiar with the matter.
"SoftBank's aggressive investment stance in the U.S. has nothing to do with its earnings growth or stock fundamentals, but it affects sentiment," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management. "Since SoftBank is one of the 'Trump beneficiary stocks' which had risen earlier, people seem to be taking profits on this report."
Led by founder Masayashi Son, SoftBank has made a string of surprising acquisitions and investments over the past months, which include an all-cash deal to buy asset manager Fortress Investment Group.
Son also promised a $50 billion investment and 50,000 new jobs in the United States after meeting U.S. President Donald Trump in early December. SoftBank shares have jumped 36 percent since Trump won the U.S. presidential election in November.
Insurers Dai-ichi Life Holdings stumbled 1.9 percent and Sompo Holdings fell 1.4 percent. Mitsubishi UFJ Financial Group slipped 1.8 percent.
Exporters were mixed, trimming earlier declines after the dollar rose against the yen during Asian trade. Toyota Motor Corp was down 0.1 percent, Nissan Motor Co gained 0.5 percent and Panasonic Corp shed 0.3 percent.
The broader Topix dropped 0.2 percent to 1,563.28 and the JPX-Nikkei Index 400 shed 0.2 percent to 13,986.79.
REUTERS RSD 0821
Top News
Peace in Afghanistan a must for economic recovery: Kovind

Peace in Afghanistan a must for economic recovery: Kovind

New Delhi, Oct 24 (UNI) President Ram Nath Kovind on Tuesday said securing sustained peace and security remain the key fundamentals in leading Afghanistan on the pathway of economic recovery and growth.

see more..
   
24 Oct 2017 | 3:09 PM
NIA  arrests Hizbul Chief’s  son in terror funding case

NIA arrests Hizbul Chief’s son in terror funding case

New Delhi, Oct 24 (UNI) In a major development in its ongoing probe in the terror-funding cases, the National Investigation Agency (NIA) on Tuesday arrested Hizbul Mujahideen chief Syed Salahuddin’s son Syed Shahid Yusuf .

see more..
   
24 Oct 2017 | 3:10 PM
Govt to build 50 more outposts along India-China border: Rajnath

Govt to build 50 more outposts along India-China border: Rajnath

New Delhi, Oct 24 (UNI) Union Home Minister Rajnath Singh on Tuesday said that the government is mulling to build 50 more Indo-Tibetan Border Police (ITBP) posts along India-China border.

see more..
   
24 Oct 2017 | 4:33 PM
ASEAN to step up measures to combat terrorism

ASEAN to step up measures to combat terrorism

Clark (The Philippines), Oct 24 (UNI) The Association of Southeast Asian Nations (ASEAN) nations have agreed to step up counter-terrorism measures to prevent pro-Islamic State (IS) militants from gaining ground in Southeast Asia.

see more..
   
24 Oct 2017 | 4:40 PM
Ex-IB Chief appointment proves Modi's failure on Kashmir: Kharge

Ex-IB Chief appointment proves Modi's failure on Kashmir: Kharge

Kalaburgi, Oct 24 (UNI) Congress leader in the Lok Sabha Mallikarjun Kharge today said the appointment of former Intelligence Bureau Chief Dineshwar Sharma as the interlocutor for peace talks in Jammu and Kashmir proved that the Modi government had failed in handling the situation in the trouble torn state.

see more..
   
24 Oct 2017 | 4:49 PM
ISSF WC Day 1: Jitu, Sidhu clinch gold in Air Pistol Mixed Team event

ISSF WC Day 1: Jitu, Sidhu clinch gold in Air Pistol Mixed Team event

New Delhi, Oct 24 (UNI) Indian shooters Jitu Rai and Heena Sidhu clinched gold medal in the 10m air pistol mixed team event on day one of the International Shooting Sports Federation (ISSF) World Cup Final here on Tuesday.

see more..
   
24 Oct 2017 | 4:18 PM
Modi holds bilateral talks with Afghan President Ghani

Modi holds bilateral talks with Afghan President Ghani

New Delhi, Oct 24 (UNI) Prime Minister Narendra Modi and Afghan President Ashraf Ghani on Tuesday held bilateral talks and discussed matters related to taking steps to end "menace of terrorism".

see more..
   
24 Oct 2017 | 2:37 PM

Karnataka organizes Roadshow on Intl Trade Fair from Jan 19

24 Oct 2017 | 4:55 PM

Hyderabad, Oct 24 (UNI) In connection with the forthcoming International Trade Fair-Organics and Millets 2018, scheduled to be held in Bengaluru from January 19 to 21 and in a bid to take the Millet Revolution across the country, the Department of Agriculture, Government of Karnataka, organised a roadshow here today.

FIFA-U17WC: Eng to face three times winner Brazil in semis

FIFA-U17WC: Eng to face three times winner Brazil in semis

24 Oct 2017 | 4:30 PM

Kolkata, Oct 24 (UNI) Expecting an electrifying World Cup under-17 semifinal football match between three times winners Brazil and title aspirants England at the shifted venue of Salt Lake Stadium here on Wednesday, football crazy Kolkatans made beeline in front of ticket counters since early morning but only to be told that tickets are available to those who have booked those online.

Panacea Biotec gets USFDA nod to launch Prasugrel tablets

24 Oct 2017 | 4:46 PM

Mumbai, Oct 24(UNI)Pharma Major, Panacea Biotec today said it has received final approval from the US health regulator to launch generic Prasugrel tablets, Prasugrel tablets are used for preventing blood clots in people with acute coronary syndrome, in the American market.

image