Nikkei 225 Off 0.75% on Osaka Earthquake, Sino-US Trade Tensions

Japan’s Nikkei 225 stock index fell 0.75% on Monday after an earthquake struck the Kansai region, including the Osaka, Kyoto and Hyogo prefectures, shortly before 8 am, local time.

Osaka-based electronics manufacturers Panasonic (PNCOY, 6752:Tokyo) and Sharp (SHCAF, 6753:Tokyo) fell 2.7% and 3.2% respectably, as did other companies with exposure to the region. The earthquake followed news Friday that the US will impose tariffs on $50 billion worth of China imports annually, possibly triggering a trade war among Japan’s two-largest trading partners.

The benchmark Nikkei fell 171.42 to 22,680.33, as losing issues outnumbered gainers 189 to 31.

Leading the upside were Sumitomo Osaka Cement (5232:Tokyo), up 3.2%, followed by Taiyo Yuden (TYOYY, 6976:Tokyo), up 2.4%, and then builder Obayashi (OBYCF, 1802:Tokyo), up 2.1%.

On the downside were Mitsui Mining & Smelting (MMSMY, 5706:Tokyo), off 6.6%, and then silicon wafer-maker Sumco (SUMCF, 3436;Tokyo), off 5.2%.

In economic news, Japan’s May exports rose 8.1% from a year earlier, while imports rose 14.0%, the Ministry of Finance reported. The export growth was above expectations.