ZCZC
BCN-07
STOCKS-MARKETS-JAPAN-OPEN
Tokyo stocks open lower as trade war worries resurface
TOKYO, July 11, 2018 (BSS/AFP) – Tokyo stocks opened lower on Wednesday as
worries about a trade war resurfaced after the United States announced a new
list of Chinese export goods subject to tariffs.
The benchmark Nikkei 225 index fell 0.84 percent, or 187.00 points, to
22,009.89 in early trade while the broader Topix index was down 0.70 percent,
or 12.08 points, at 1,704.05.
“Sales are seen dominating after US trading in after hours saw declines
following media reports that President Trump is nearing the release of an
additional list of Chinese exports to the US subject to new US tariffs,” SBI
Securities said in a commentary.
The US late Tuesday announced it was starting the process to slap 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 quoted at 110.93 yen, against 110.26 yen in New
York late Tuesday.
In Tokyo, exporters and China-related shares were lower, with electronic
parts maker Rohm dropping 4.82 percent to 4,821 yen and construction
machinery maker Komatsu trading down 2.32 percent at 3,104 yen.
Market heavyweight Fast Retailing, Uniqlo casual wear operator, was also
lower, trading down 0.84 percent at 48,150 yen.
In New York, the Dow ended up 0.6 percent at 24,919.66.
BSS/AFP/HR/1000