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Tokyo stocks close lower on heightening global trade tensions
Source: Xinhua   2018-06-25 18:03:27

TOKYO, June 25 (Xinhua) -- Tokyo stocks closed lower Monday with the market mood dented by global trade tensions after U.S. President Donald Trump threatened to slap more tariffs on all cars imported from the European Union.

The 225-issue Nikkei Stock Average lost 178.68 points, or 0.79 percent, from Friday to close the day at 22,338.15.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 16.56 points, or 0.95 percent, to finish at 1,728.27.

Investors were encouraged in early trade following the Dow Jones Industrial Average snapping an eight-day losing streak on Friday, market analysts here said.

But reports saying that the U.S. may complete an investigation sooner than expected as to whether automobiles and parts imports pose a threat to U.S. national security, also spooked investors and prompted selling, local brokers said.

With Japan's auto sector possibly being targeted for new tariffs, related issues retreated on Monday, with a Trump tweet warning of slapping a 20-percent tariff on all cars imported from the European Union, adding to investor consternation, they added.

By the close of play, land transportation, metal product, and textile and apparel-oriented issues comprised those that retreated the most, and falling issues beat rising ones by 1,740 to 298 on the First Section, while 53 ended the day unchanged.

On the main section on Monday, 1,196.25 million shares changed hands, dropping from Friday's volume of 1,594.04 million shares.

The turnover on the first trading day of the week came to 1,993.2 billion yen (18.20 billion U.S. dollars).

Editor: Li Xia
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Xinhuanet

Tokyo stocks close lower on heightening global trade tensions

Source: Xinhua 2018-06-25 18:03:27
[Editor: huaxia]

TOKYO, June 25 (Xinhua) -- Tokyo stocks closed lower Monday with the market mood dented by global trade tensions after U.S. President Donald Trump threatened to slap more tariffs on all cars imported from the European Union.

The 225-issue Nikkei Stock Average lost 178.68 points, or 0.79 percent, from Friday to close the day at 22,338.15.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 16.56 points, or 0.95 percent, to finish at 1,728.27.

Investors were encouraged in early trade following the Dow Jones Industrial Average snapping an eight-day losing streak on Friday, market analysts here said.

But reports saying that the U.S. may complete an investigation sooner than expected as to whether automobiles and parts imports pose a threat to U.S. national security, also spooked investors and prompted selling, local brokers said.

With Japan's auto sector possibly being targeted for new tariffs, related issues retreated on Monday, with a Trump tweet warning of slapping a 20-percent tariff on all cars imported from the European Union, adding to investor consternation, they added.

By the close of play, land transportation, metal product, and textile and apparel-oriented issues comprised those that retreated the most, and falling issues beat rising ones by 1,740 to 298 on the First Section, while 53 ended the day unchanged.

On the main section on Monday, 1,196.25 million shares changed hands, dropping from Friday's volume of 1,594.04 million shares.

The turnover on the first trading day of the week came to 1,993.2 billion yen (18.20 billion U.S. dollars).

[Editor: huaxia]
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