TOKYO: Japan’s Nikkei share average closed slightly lower on Monday, as tourism-related stocks tumbled after China warned its citizens against travel to Japan amid a worsening diplomatic rift over Taiwan.
The Nikkei finished 0.1 percent lower at 50,323.91, after rising as much as 0.4 percent earlier in the session. The broader Topix fell 0.37 percent to 3,347.53.
On Friday, China warned Tokyo of a “crushing” military defeat if it used force to intervene over Taiwan and warned Chinese citizens against visiting Japan.
Tensions between Tokyo and Beijing have flared up since Japanese Prime Minister Sanae Takaichi said earlier this month that a Chinese attack on Taiwan could amount to a “survival-threatening situation” and trigger a potential military response from Tokyo.
Japanese retailers rely a lot on Chinese tourists, who spend a large amount of money in buying clothing and cosmetics.
Shares of department stores fell, with Isetan Mitsukoshi Holdings down 11 percent. Takashimaya lost 6.18 percent, while cosmetics maker Shiseido fell 9.08 percent.
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