Tokyo stocks closed down over two percent on July 2 as Chinese stocks tumbled ahead of the expected imposition of US tariffs and confidence among Japan’s biggest manufacturers slipped. / AFP PHOTO / Kazuhiro NOGI
TOKYO, Japan (AFP) — Tokyo stocks opened flat on Thursday on investor jitters a day before a US deadline to impose tariffs on Chinese imports.
The benchmark Nikkei 225 index edged up 0.01 percent or 1.77 points to 21,718.81 in early trade while the broader Topix was down 0.16 percent or 2.71 points at 1,690.54.
“A wait-and-see mood is likely to spread as it is yet to be seen what will happen” with Washington and Beijing locking horns, SBI Securities said in a note.
The United States is due to begin enforcing tariffs Friday on more than $30 billion (25.8 billion euros) in Chinese imports as retribution for what Washington describes as Beijing’s theft of American technology and other unfair trade practices.
Beijing has vowed to respond with its own tariffs immediately, which Trump has said will invite far steeper US counter-measures, potentially covering another $400 billion in Chinese goods.
The dollar was changing hands at 110.57 yen against 110.54 yen in London on Wednesday.
In trade in individual stocks, Sony fell 1.68 percent to 5,439 yen and Nippon Steel & Sumitomo Metal lost 1.19 percent to 2,070.5 yen.
Honda rose 0.75 percent to 3,212 yen and Toyota gained 0.64 percent to 7,144 yen.
© Agence France-Presse
