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Japan Stocks drops 1.8% on Sino-US trade conflict

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Capital Market
Japan share market finished session lower on Tuesday, 19 June 2018, as investor concerns increased about the implications on the global economy of a tariff war between the US and China after reports that US President Donald Trump was threatening to impose additional tariffs on Chinese goods. Meanwhile, selloff pressure intensified on yen appreciation against greenback and due to a dispute in Germany's governing coalition and expectations the European Central Bank will hold interest rates steady into 2019. Most of TSE33 issues declined, with air transportation, pulp and paper, and chemical-linked issues comprised those that declined the most. The 225-issue Nikkei Stock Average dropped 401.85 points, or 1.77%, from Monday to close the day at 22,278.48, marking its lowest closing level since June 1. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 27.51 points, or 1.55%, to finish at 1,743.92.

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First Published: Jun 19 2018 | 6:50 PM IST

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