Tokyo Stocks Close Lower On Renewed Trade War Worries 11 July 2018

Tokyo stocks ended lower on Wednesday as worries about a trade war resurfaced after the United States announced a new list of Chinese exports subject to tariffs.

Tokyo, (UrduPoint / Pakistan Point News - 11th Jul, 2018 ) :Tokyo stocks ended lower on Wednesday as worries about a trade war resurfaced after the United States announced a new list of Chinese exports subject to tariffs.

The benchmark Nikkei 225 index fell 1.19 percent, or 264.68 points, to close at 21,932.21 while the broader Topix index lost 0.83 percent, or 14.25 points, to 1,701.88.

"The Nikkei index fell as investors were cautious on the additional China tariff list released by the US," Okasan Online Securities chief strategist Yoshihiro Ito said in a client note.

The US late Tuesday announced it was starting the process of slapping 10 percent tariffs on another $200 billion in Chinese export goods as soon as September, escalating the trade war between the world's two largest economies.

In Asia, the Dollar was trading at 111.05 yen, against 111.26 Yen in New York late Tuesday.

In Tokyo, exporters and China-related shares were lower, with electronic parts maker Rohm dropping 2.36 percent to 9,510 yen and construction machinery maker Komatsu trading down 2.51 percent at 3,098 yen.

Market heavyweight Fast Retailing, the operator of Uniqlo casual wear, was also lower, falling 2.34 percent to 47,420 yen.