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Tokyo stocks open flat on investor jitters over US-China trade row

Jul 05 2018 07:33

Tokyo - Tokyo stocks opened flat on Thursday on investor jitters a day before a US deadline to impose tariffs on Chinese imports.

The benchmark Nikkei 225 index edged up 0.01% or 1.77 points to 21 718.81 in early trade while the broader Topix was down 0.16% or 2.71 points at 1 690.54.

"A wait-and-see mood is likely to spread as it is yet to be seen what will happen" with Washington and Beijing locking horns, SBI Securities said in a note.

The United States is due to begin enforcing tariffs on Friday on more than $30bn (€25.8bn) in Chinese imports as retribution for what Washington describes as Beijing's theft of American technology and other unfair trade practices.

Beijing has vowed to respond with its own tariffs immediately, which Trump has said will invite far steeper US counter-measures, potentially covering another $400bn in Chinese goods.

The dollar was changing hands at ¥110.57 against ¥110.54 in London on Wednesday.

In trade in individual stocks, Sony fell 1.68% to ¥5 439 and Nippon Steel & Sumitomo Metal lost 1.19% to ¥2 070.5.

Honda rose 0.75% to ¥3 212 and Toyota gained 0.64% to ¥7 144.

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