Tokyo Stock Exchange retreats on US-China tensions

The Tokyo Stock Exchange ended down Tuesday, weighed down by the possibility of a visit by Nancy Pelosi to Taiwan, which could further worsen Sino-American relations, and by the rise of the yen against the dollar.

The flagship Nikkei index lost 1.42% to 27,594.73 points and the broader Topix index dropped 1.77% to 1,925.49 points.

Speaker of the United States House of Representatives Nancy Pelosi, who arrived in Malaysia on Tuesday after a first stop in Singapore, was unclear about a possible stopover in Taiwan, provoking the ire of China, which considers the island to be part of its territory.

„Japanese companies are heavily dependent on China for their trade, and a visit by (Ms.) Pelosi to Taiwan would escalate tensions between China and the United States, which would dampen stock purchases,” commented Hideyuki Ishiguro. of Nomura Asset Management, quoted by the Bloomberg agency.

Hannah Bentley

Learn More →

Dodaj komentarz

Twój adres e-mail nie zostanie opublikowany.