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Tokyo’s stocks get higher due to concerns of tariff on Japanese imports
(MENAFN) Tokyo’s stock market closed higher on Tuesday after concerns diminished regarding the recently announced U.S. tariff on Japanese imports, which was slightly increased but remained close to the initially stated rate.
Japan’s key benchmark, the Nikkei 225, gained 101.13 points, or 0.26%, finishing at 39,688.81. Meanwhile, the broader Topix index rose 4.82 points, or 0.17%, ending the day at 2,816.54.
Initially, the Nikkei mirrored losses seen in the previous session on Wall Street, following U.S. President Donald Trump’s announcement of a 25% tariff on imports from Japan starting August 1.
However, the index soon turned positive as analysts noted that the tariff rate was largely consistent with the 24% rate announced in April, alleviating some investor worries.
Japan’s key benchmark, the Nikkei 225, gained 101.13 points, or 0.26%, finishing at 39,688.81. Meanwhile, the broader Topix index rose 4.82 points, or 0.17%, ending the day at 2,816.54.
Initially, the Nikkei mirrored losses seen in the previous session on Wall Street, following U.S. President Donald Trump’s announcement of a 25% tariff on imports from Japan starting August 1.
However, the index soon turned positive as analysts noted that the tariff rate was largely consistent with the 24% rate announced in April, alleviating some investor worries.
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