Nikkei pinned to 8-month low as US tariffs loom
(Updates to close)
The Nikkei index closed more or less flat at 35,624.48, having failed to sustain the morning's bounce.
The benchmark had logged a 10.7% fall for the first quarter
on Monday, its largest drop since the pandemic-struck start of
2020, as a darkening trade outlook pummelled
The broader Topix closed 0.1% higher at 2,661.73. It logged a much smaller quarterly drop of 4.5% on Monday.
"The Nikkei pared its gains as the yen's strength weighed on
exporters," said Shuutarou Yasuda, a market analyst at
The yen was a fraction higher at 149.84 per U.S. dollar on the day and has rallied about 4.3% year-to-date.
U.S. President Donald Trump is expected to announce a broad round of fresh U.S. tariffs on Wednesday.
"Chip-related stocks capped further gains of the Nikkei. There is a growing concern globally about the demand for data centres," Yasuda said.
Chip-testing equipment maker
Earlier in the day, the Bank of Japan's (BOJ) closely-watched "tankan" survey showed that the headline index measuring big manufacturers' business confidence stood at +12 in March, in line with the median market forecast.
The data could have strengthened the yen as it left open the
possibility of early interest rate hikes by the BOJ, Yasuda
said.
(Reporting by
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