Japanese shares fell as the yen strengthened after U.S. President Donald Trump threatened to slap tariffs on another $200 billion in Chinese imports.
Chemical companies and retailers dragged down the benchmark Topix gauge. S&P 500 futures dipped in early trading in Tokyo, while the Japanese currency gained for a second day against the dollar. Trump said he has directed the U.S. Trade Representative to identify more Chinese imports for additional tariffs at a rate of 10 percent. This is in response to China’s decision to raise tariffs on U.S. exports, Trump said.
Topix index -0.4% to 1,764.97 as of 9:23 a.m. in Tokyo. Nikkei 225 -0.5% to 22,569.30. Yen +0.4% at 110.14 versus dollar.