Japan's Nikkei dips as looming US tariff deadline spurs caution
[TOKYO] Japan’s Nikkei share average declined for a third straight session on Monday (Mar 24) as uncertainty ahead of a looming deadline for implementing additional US tariffs sapped investor appetite for riskier assets.
The Nikkei closed down 0.2 per cent at 37,608.49, while the broader Topix shed 0.5 per cent to sit at 2,790.88 after hitting an eight-month peak on Friday.
The Nikkei received some support as a portion of heavyweight shares saw some buying, with AI-focused startup investor SoftBank Group climbing 3 per cent to offer the biggest lift.
US President Donald Trump hinted that he would be flexible regarding a new round of tariffs set to go into effect on April 2, helping lift the S&P and Dow at the end of the week.
But the benchmark Nikkei index struggled to advance on the day, seesawing between gains and losses as investors took a cautious approach to the impending tariff threat.
Many important details regarding the latest tariffs are still unknown, keeping investors on edge, said Kazuo Kamitani, a strategist at Nomura Securities.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
“There’s no way to predict it, so we have no choice but to wait for the announcement,” Kamitani said.
Major semiconductor-related shares dragged on Monday, tracking their US peers after the Philadelphia Semiconductor Index ended nearly 1 per cent lower on Friday.
Tokyo Electron slid 0.8 per cent and Advantest declined 1.2 per cent, while Screen Holdings tumbled 3.5 per cent to become one of the biggest percentage losers on the Nikkei.
Among other big-name shares, Uniqlo parent firm Fast Retailing erased earlier gains to stumble 0.1 per cent, and telecoms company KDDI gave up 1.3 per cent. Seven & i Holdings rose 1.8 per cent.
Sumitomo Realty & Development surged 10.5 per cent after Bloomberg News reported Elliott Management Corp has built a significant stake in the Japanese real estate developer. REUTERS
Share with us your feedback on BT's products and services
