Japan Stocks Fall as Exporters Slide on Trump Tariffs, Yen Gain
Japanese stocks fell as exporters headed lower on the yen’s strength and President Donald Trump’s pledge to impose tariffs.
Topix fell 0.7% to 2,711.29 as of 9:15 a.m. Tokyo time.
Nikkei 225 declined 1.4% to 37,249.78.
Hitachi contributed the most to the Topix’s decline, decreasing 2.7%. Tech shares were the heaviest drag on the Topix after the Nasdaq 100 slid and Trump said he would plow ahead with new tariffs on Canada and Mexico Tuesday.
The yen held gains at 149.43 per dollar after Trump said Japan and China are putting the US at an unfair disadvantage when they weaken their currencies.
“The US economy has been strong so far, but the market is aware that it is at a turning point due to the negative impact of additional tariffs by President Trump,” said Hideyuki Ishiguro, chief strategist at Nomura Asset Management. “Japan, which has not been subject to tariffs so far, has finally been named in relation to a weak currency.”
Out of 1,694 stocks in the benchmark Topix, 579 rose and 1,010 fell, while 105 were unchanged.
Source : Bloomberg
