Japanese stocks declined after China retaliated against higher U.S. tariffs by increasing duties, escalating trade tensions between the world’s two largest economies.
Topix -2% at 1,510.67 as of 9:06 a.m. in Tokyo, Nikkei 225 -2% at 20,769.71. The Topix index fell for a seventh session, the longest losing streak since September. Electronics makers and banks contributed the most to the gauge’s decline after U.S. stocks plunged on Monday and the yen strengthened against the dollar. China overnight announced that it will increase tariffs imposed on about $60 billion of U.S. goods in retaliation for President Donald Trump’s latest salvo last week.
Source : Bloomberg