UBS announced a net profit of $1.4 billion for the second quarter of 2019.Earningsread more
Beijing says it can still meet its 2019 growth target of between 6% and 6.5% and continues to roll out stimulus measures to prop up activity. China set a 2019 industrial...China Economyread more
Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday afternoon, as investors await closely-watched central bank meetings in the coming days.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The deal between the White House and Democrats was earlier expected to raise the debt ceiling for two years and permanently end the sequester.Politicsread more
Britain's Antstream is jumping into the cloud gaming battle with a streaming platform for retro titles. And Tencent just backed the company.Technologyread more
American comedian Hannibal Buress, who stars in "The Eric Andre Show," has made a recent transition into the world of business as an angel investor — but there's an important...How I Made Itread more
* Nikkei falls 0.3%, Topix eases 0.1%; cyclicals lead losses
* Trump, Xi to hold trade talks in Japan on Saturday
* BOJ's "tankan" survey due out on Monday
TOKYO, June 28 (Reuters) - Tokyo stocks fell on Friday as investors turned cautious ahead of much awaited talks between U.S. and Chinese leaders on the sidelines of the G20 summit in Japan, with cyclical shares retreating before the weekend.
The benchmark Nikkei average dropped 0.3% to 21,275.92 points, having risen 1.2% on Thursday after a South China Morning Post report raised hopes Washington and Beijing might make progress in talks.
For June, the Nikkei rose 3.3% for the first monthly gain since April, though it was almost flat for the week.
U.S. President Donald Trump said on Wednesday a trade deal with Chinese President Xi Jinping was possible this weekend but he is prepared to impose U.S. tariffs on most remaining Chinese imports if the two countries don't agree.
White House economic adviser Larry Kudlow told Fox News on Thursday that Trump's decision on whether to impose new tariffs on a $300 billion list of nearly all remaining Chinese imports will depend on the outcome of Saturday's meeting at the western Japanese city of Osaka.
Traders say investors unwound their positions in cyclical stocks ahead of the weekend and the Bank of Japan's closely watched "tankan" survey, due on Monday.
"Even if the two countries could reach a positive agreement, Japanese equities would benefit little. Expectations in the market are that the U.S. will ease their monetary policy, which would make the dollar pressured against the yen," said Isao Kubo, an equity strategist at Nissay Asset Management.
"Whether the yen strengthens or not is also of investor concern."
The yen's sustained strength against the dollar and weak Chinese stocks also weighed on sentiment.
Exporters, which led the gains the previous day, lost ground. Daikin Industries shed 2.4%, while Nissan Motors dropped 0.8% and Nikon Corp slipped 1.0%.
Bucking the overall weakness, some defensive shares were in demand. Tokyo Gas climbed 0.9%, while Astellas Pharma added 0.7% and Otsuka Holdings rose 0.5%.
The broader Topix eased 0.1% to 1,551.14. (Reporting by Tomo Uetake & Ayai Tomisawa; Editing by Kim Coghill & Shri Navaratnam)