TOKYO: Japan’s Nikkei share average ended lower on Wednesday, with automakers leading the losses, amid concerns about the impact of US President-elect Donald Trump’s tariff pledges and a stronger yen.
The Nikkei fell 0.8% to close at 38,134.97 and the broader Topix lost 0.9% to 2,665.34.
On Monday, Trump pledged to impose new tariffs on imports from Canada, Mexico and China, which strategists said raised concerns that Japanese products might face a similar move.
“Wall Street was strong overnight but the Nikkei futures trading on the CME (Chicago Mercantile Exchange) fell, which suggested weak sentiment of foreign investors,” said Yusuke Sakai, a senior trader at T&D Asset Management.
Wall Street stocks, led by S&P 500 and the Nasdaq, ended higher on Tuesday, as technology stocks rebounded, while investors digested Trump’s tariff pledges and the latest minutes from the Federal Reserve.
“And the stronger dragged sentiment lower,” Sakai said.
The yen rose from safe-haven bids amid turmoil in the Middle East, trading last up 0.57% at 152.235 per dollar.
Comments
Comments are closed for this article.