China protests hit Tokyo investment
Monday’s Tokyo markets were hit by the weeked’s anti-Japanese protests in China.
Not even a strong showing by Japan’s entertainment and leisure sectors could overcome investor unease, and Japanese companies with connections to China were especially affected.
Overall, the Nikkei fell 1.1 percent on Monday, and the Topix was down 0.9 percent. Kawasaki Heavy Industries, which has contracts to build trains in China, fell 2.9 percent, and Mitsubishi Heavy Industries were down 1 percent.
The rare demonstrations in Beijing were caused by upset over a new Japanese history book that does not, according to the demonstrators, fully recognized the extent of Japanese atrocities against the Chinese during World War II.
Marchers were also unhappy about Japan’s efforts to become a permanent member of the U.N. Security Council.
Businesses in Japan have seen huge benefits thanks to China’s current economic growth, in the main due to exports to China, Hong Kong, and Taiwan.