Japanese stocks trim losses at close amid trade tensions

Japanese stocks fell on Tuesday, affected by US President Donald Trump’s announcement to move forward with imposing tariffs on Mexico and Canada, in addition to measures taken by Canada and China in response to these fees.

The Tokyo Stock Exchange reported that the Japanese Nikkei (which includes 225 issues) ended today’s session down 1.20%, or 454.29 points, to reach 37,331.18 points, after recording its lowest levels since September 18 during the session with losses of 2.5%, while the broader Topix index closed down 0.71%, or 19.38 points, to close at 2,710.18 points.

Major Japanese companies’ shares recorded a noticeable decline today, as SoftBank Group Corp. shares fell 4.78%, or 398 yen, to close at 7,932 yen. Chip testing equipment maker Advantest fell 4.33%, or 352 yen, to 7,776 yen, dragged down by Wall Street heavyweight Nvidia Corp.’s 8.7% drop on Monday. Automakers fell after the yen rose to near its highest since early December against the dollar, while defense stocks bucked the market trend, with Mitsubishi Heavy Industries Inc. rising 7.76%, or 164.50 yen, to close at 2,285.50 yen.