By Kevin Buckland
TOKYO, – Japan’s Nikkei share average dropped in the final minute of trading on Tuesday, extending its losing streak to a third day, as traders turned increasingly nervous about global trade tensions.
The Nikkei ended the day 0.06% lower at 37,446.81, with 122 of its 225 components declining, 98 rising and five ending flat.
The broader Topix slipped 0.22%.
Japan’s safe-haven yen provided a headwind after strengthening as far as a one-week high of 142.40 per dollar early on Tuesday.
A firmer currency reduces the value of overseas revenues for Japan’s exporters.
Automakers underperformed, with Suzuki Motor tumbling 4.51% to be the Nikkei’s biggest percentage decliner. Honda lost 0.94%.
Toyota Motor declined 0.59%, showing little reaction to domestic media reports that Toyota Industries would accept its $42 billion takeover bid. Toyota Industries rose 0.77%.
U.S. President Donald Trump’s administration wants countries to submit their best offer on trade negotiations by Wednesday, as officials seek to accelerate talks with multiple partners ahead of a self-imposed deadline in just five weeks, Reuters reported.
Trump and China’s President Xi Jinping will probably speak this week, White House Press Secretary Karoline Leavitt said on Monday, days after Trump accused Beijing of violating an agreement to roll back tariffs and trade restrictions.
Despite the simmering uncertainties, a gauge of Nikkei volatility eased to 24.57%, moving into the middle of the narrow range of the past month, following a surge to as high as 62.46% in early April, when Trump unveiled his “Liberation Day” reciprocal tariffs.
“With Nikkei 225 VIX returning to pre-spike levels, the market rally driven by fading uncertainty may be ending,” Bank of America Securities strategists said in a note.
“However, global earnings estimate revisions appear to be bottoming, suggesting the market is unlikely to undergo a sharp decline.”
This article was generated from an automated news agency feed without modifications to text.
