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Tokyo: Nikkei tumbles on global slowdown worries

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Japanese stocks hit the skids on Monday as investors fretted about the rising risks to global and domestic growth from a potentially protracted and widening tariff war between the United States and its major trading partners.

[TOKYO] Japanese stocks hit the skids on Monday as investors fretted about the rising risks to global and domestic growth from a potentially protracted and widening tariff war between the United States and its major trading partners.

Index-heavy SoftBank Group Corp tumbled 6.2 per cent after the Wall Street Journal reported that the company's bid to raise a second mega fund has met with a chilly reception from some of the world's biggest money managers.

The Nikkei share average ended 0.9 per cent lower at 20,410.88, the weakest closing level since Feb 9. In intraday trade, it slumped 1.4 per cent to hit a 4-1/2 month low of 20,305.74.

The broader Topix dropped 0.9% to 1,498.96.

REUTERS

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