Japanese Stocks Close Lower, Weighed by Trump’s Tariff Moves
By
P.R. Venkat, Dow Jones Newswires
Japanese shares ended lower as risk-aversion gathered steam following President Trump’s decision to impose tariffs on Canada, Mexico, and China.
The Nikkei Stock Average finished 2.7% lower at 38520.09. Auto stocks fell sharply with Toyota, Honda, and Nissan Motor closing 5.0%, 7.2%, and 5.6% lower, respectively.
Japanese auto makers not only produce cars at U.S. plants or import from Japan but also make them in Mexico and import to the U.S. Finance sector-related companies also weighed on the index. Mitsubishi UFJ Financial lost 2.7% and Sumitomo Mitsui Financial was down 2.9%. USD/JPY was at 155.37 compared with 154.13 as of Friday 5 p.m. Eastern time.
