September 2, 2019 / 2:06 AM / 15 days ago

Japanese shares dip after activation of U.S-China tariffs

TOKYO, Sept 2 (Reuters) - Japanese shares dipped on Monday as the weekend activation by the United States and China of tariffs on some of each other's goods deepened the ongoing trade war between the pair.

Washington began imposing 15% tariffs on a variety of Chinese goods on Sunday, while Beijing started imposing new duties on U.S. crude on the same day.

The Nikkei stock average was down 0.29% at 20,643.98 at 0144 GMT.

There were 64 advancers on the Nikkei index against 154 decliners, as shares of companies with a strong presence in China retreated.

Construction machinery maker Komatsu Ltd declined 0.3%, robot manufacturer Fancuc Corp lost 0.2% and electrical equipment maker Yaskawa Electric Corp fell 1%.

Shipping companies, on the other hand, gained thanks to a rise in the Baltic index, which tracks rates for ships ferrying dry bulk commodities, to a nine-year peak.

Nippon Yusen KK edged up 0.5%, Kawasaki Kisen Kaisha added 1.2% and Mitsui OSK Lines was up 0.8%.

The broader Topix shed 0.28% to 1,507.63.

The top underperformers among the top 30 core Topix names were Central Japan Railway Co m which lost 1.4%, followed by Shin-Etsu Chemical Co which fell 1.3%.

The stocks that gained the most among the top 30 core Topix were Astellas Pharma Inc, which rose 2.1% and Takeda Pharmaceutical Co, which climbed 1.2%. (Reporting by Shinichi Saoshiro; Editing by Jane Wardell)

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