Japan's Nikkei slides as market reacts to Trump's fresh tariff vows

Fujikura

26/11/2024 01:22

TOKYO, Nov 26 (Reuters) - Japan's Nikkei share average
fell more than 1% on Tuesday as the market reacted to U.S.
President-elect Donald Trump's fresh promises of tariffs.
    Trump on Monday said that on his first day in office he
would impose a 25% tariff on all products from Mexico and Canada
and an additional 10% tariff on goods from China, citing
concerns over illegal immigration and trade of illicit drugs.
    At 0108 GMT, the Nikkei index was down 1.5% to 38,209.47,
while the broader Topix  .TOPX  slid 1.3%.
    A majority of the Nikkei's 225 constituents were down, with
only 41 advancers against 183 decliners.
    The largest percentage losses in the index were IHI Corp
 7013.T , which shed 5.6%, followed by Fujikura  5803.T  and
Kawasaki Heavy Industries  7012.T  losing 5.5% and 5%,
respectively.

 (Reporting by Brigid Riley; Editing by Sumana Nandy)
 ((brigid.riley@thomsonreuters.com;))