Tokyo stocks drop sharply on U.S. tariff concern, firmer yen-Xinhua

Tokyo stocks drop sharply on U.S. tariff concern, firmer yen

Source: Xinhua

Editor: huaxia

2025-03-07 19:14:30

TOKYO, March 7 (Xinhua) -- Tokyo stocks ended sharply lower on Friday, with the benchmark Nikkei closing at a six-month low, weighed down by concern about U.S. fluctuating trade policy and selling of export-related auto issues on a stronger yen.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 817.76 points, or 2.17 percent, from Thursday at 36,887.17, its lowest closing since Sept. 18, 2024.

The broader Topix index, meanwhile, finished 42.82 points, or 1.56 percent, lower at 2,708.59.

Stocks were sold throughout the day amid uncertainty over U.S. tariff policies. The United States on Thursday suspended the 25 percent tariffs imposed this week on Canadian and Mexican imports, but investors are wary as the direction of U.S. trade policies remains uncertain, analysts said.

The market was also dragged down by the selling of exporters on a stronger Japanese currency amid speculation that the Bank of Japan will further increase interest rates, dealers said.