Japanese Stocks Fall as Latest US Tariffs Spurs Uncertainties
Japan’s stocks slip after US President Trump threatened a 30% tariff rate on the European Union and Mexico from Aug. 1, in a move seen stoking concerns around the economy and corporate earnings.
The Topix Index fell 0.2% to 2,816.45 as of 9:05 a.m. Tokyo time
The Nikkei declined 0.4% to 39,427.87.
Sony Group Corp. contributed the most to the Topix Index decline, decreasing 1.3%. Out of 1,680 stocks in the index, 853 rose and 702 fell, while 125 were unchanged.
Shoji Hirakawa, Chief Global Strategist, Tokai Tokyo Intelligence Lab. said Japanese stocks are likely to sell off today, especially export-related stocks after the tariff announcements but downside will be limited because of weaker-than-expected yen.
Source : Bloomberg