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Japanese stock prices dropped on Tuesday, erasing earlier gains, after US President Donald Trump said he could enact tariffs on Canada and Mexico next month, dashing hopes that he will pursue a more moderate trade policy.
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Bloomberg News
Hideyuki Sano and Toshiro Hasegawa
Published Jan 20, 2025 • 1 minute read
(Bloomberg) — Japanese stock prices dropped on Tuesday, erasing earlier gains, after US President Donald Trump said he could enact tariffs on Canada and Mexico next month, dashing hopes that he will pursue a more moderate trade policy.
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The Topix Index fell 0.2% to 2,706.60 as of 9:56 a.m. Tokyo time, while the Nikkei declined 0.1% to 38,877.73, erasing earlier gains.
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Carmakers, seen as the most vulnerable to tariffs because of significant exports to US from factories in Japan and Mexico, dropped, with Mazda Motor losing as much as 2.6%.
ADVANCERS
- Ibiden (4062) +3.5%
- DeNA (2432) +2.8%; DeNA Stake Falls to 4.3%: SM Trust AM
- Disco (6146) +2.4%
DECLINERS
- Money Forward (3994) -4.9%
- Fuji Media (4676) -4.3%; Fuji Media Volume Rises: 3 Signals Since Jan. 17
- Rakuten Bank (5838) -3.3%
INSIGHTS
- 17 of the 33 sector indexes on the Tokyo Stock Exchange advanced; Tokyo Stock Exchange TOPIX Other Products Index was the best performer, while Tokyo Stock Exchange TOPIX Mining Index fell the most
- The MSCI AC Asia Pacific Index was unchanged
- Topix Index is up 7.8% over the last year, vs. MSCI AC Asia Pacific Index up 10%
- Topix Index members are trading at 14.5 times their estimated earnings for the next 12 months
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- Japanese Stocks Gain as Trump Shuns Immediate Tariff Hikes
- Prospect of Unicorn Listings Attracts Japan’s Top Accountants
- AsiaEco Brief: BOJ 2025 Challenge Is Switch to Stronger Yen
- Meiji Yasuda to Lift Wages by Average 5% Following Official Push
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