Jamie Coutts Comments: Japan's Stocks Tumble As Nikkei Enters Bear Market on US Concerns - Bloomberg
Fanuc Ltd., an industrial robot maker that receives almost half of its revenue from Asia, rose as much as 0.3 percent. It fell 1.2 percent to 9,250 yen at the close of stock trading. Hitachi Construction Machinery Co., which counts China as its biggest market, pared declines to 0.3 percent before falling 1.3 percent to 1,665 yen. Nippon Yusen K.K., the shipping line which counts Asia excluding Japan as its biggest source of revenue, was unchanged after the midday break. It closed 1.5 percent lower at 339 yen.
“A low interest rate in China is good for Japanese companies who generate a large part or growing base of revenues there and who also have Chinese production sites and operations,” said Jamie Coutts, Singapore-based technical analyst and sales manager at BGC Partners.
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