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Japanese shares fall as Trump repeats threats of more tariffs on China

Published 20/11/2019, 03:31
Updated 20/11/2019, 03:36
© Reuters.  Japanese shares fall as Trump repeats threats of more tariffs on China

By Stanley White

TOKYO, Nov 20 (Reuters) - Japanese shares fell on Wednesday

after U.S. President Donald Trump said he would raise tariffs on

Chinese imports if no deal was reached with Beijing to end a

trade war.

At 0205 GMT the Nikkei index .N225 was down 0.83% at

23,096.61.

Trump's comments, which he made on Tuesday at a cabinet

meeting at the White House, further dented hopes for a

resolution to a 16-month long trade war that has curbed global

trade. The United States and China have exchanged tit-for-tat

tariffs that have roiled financial markets and threatened to

drag growth in the global economy to its lowest rate since the

2007-2008 financial crisis.

Sticking points include how and when to reduce tariffs and

how much U.S. agricultural products China would commit to buy.

Some traders are also worried about a further deterioration

in U.S.-China relations after the U.S. Senate, in a unanimous

vote, passed legislation on Tuesday to protect human rights in

Hong Kong, which has been rocked by violent protest against

Chinese rule of the former British colony. China's foreign ministry said it strongly condemned the

measure.

There were 89 advancers on the Nikkei index against 128

decliners on Wednesday.

The largest percentage losses in the index were insurer

Dai-ichi Life Holdings Inc 8750.T down 3.96%, followed by

shipping companies Mitsui OSK Lines Ltd 9104.T losing 3.93%

and Nippon Yusen KK 9101.T down by 3.87%.

The largest percentage gainers in the index were Sumitomo

Dainippon Pharma Co 4506.T up 5.45%, followed by Casio

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Computer Co 6952.T gaining 2.27% and online commerce company

Rakuten Inc 4755.T up by 2.09%.

The Topix index .TOPX fell 0.68% to 1,685.19, on course

for its biggest decline since Nov. 14.

The volume of shares traded on the Tokyo Stock Exchange's

main board .TOPX was 0.4 billion, compared with the average of

1.25 billion yen in the past 30 days.

(Editing by Sam Holmes)

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