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According to  the monthly Reuters Tankan survey, Japanese big manufacturers’ confidence is seen deteriorating to a 6-1/2-year low in the September quarter, in the wake of lingering US-China trade and global growth concerns dampening the investors’ mood.

Key Findings:

“The Bank of Japan’s quarterly tankan business sentiment survey is projected to show the headline index for big manufacturers’ confidence fell to +2 in September from +7 three months earlier.

It would be the third straight quarterly deterioration and the lowest since March 2013 when the index showed -8.

The sentiment index for big non-manufacturers also likely worsened to +20 in September from +23 seen in June survey.

In the December quarter, big manufacturers’ business confidence is expected to worsen to +1 and non-manufacturers’ sentiment is also seen falling to +16.”