Japan's Nikkei falls on Trump's tariff pledge, stronger yen
TOKYO, Nov 27 (Reuters) -Japan's Nikkei share average fell on Wednesday, with automakers leading the losses, amid concerns about the impact of U.S. President-elect Donald Trump's tariff pledges and a stronger yen.
The Nikkei .N225 fell 0.72% to 38,165.85 by the midday break, while the broader Topix .TOPX lost 0.85% to 2,666.58.
On Monday, Trump pledged to impose new tariffs on imports from Canada, Mexico and China, which strategists said raised concerns that Japanese products might face a similar move.
"Wall Street was strong overnight but the Nikkei futures trading on the CME (Chicago Mercantile Exchange)fell, which suggested weak sentiment of foreign investors," said Yusuke Sakai, a senior trader at T&D Asset Management.
Wall Street stocks, led by S&P 500 and the Nasdaq, ended higher on Tuesday, as technology stocks rebounded, while investors digested Trump's tariff pledges and the latest minutes from the Federal Reserve. .N
"And the stronger dragged sentiment lower," Sakai said.
The yen JPY=EBS rose from safe-haven bids amid turmoil in the Middle East, trading last up 0.26% at 152.7 per dollar. FRX/
Automakers fell, with Toyota Motor 7203.T falling 3.56% to drag the Topix the most. Nissan Motor 7201.T and Honda Motor 7267.T fell 5% and 3%, respectively.
The automakers' index .ITEQP.T slipped 3.23%.
Chip-testing equipment maker Advantest 6857.T fell 3.44% to become the biggest drag on the Nikkei.
Sanrio 8136.T tanked 13.7%, after the owner of 'Hello Kitty' brand announced a sale of shares in the company.
Keisei Electric Railway 9009.T rose 5.5% to become the top gainer on the Nikkei, after the railway operator announced a sale of shares in Oriental Land worth 62 billion yen ($406.10 million).
Oriental Land 4661.T, the operator of Tokyo Disneyland, rose 4.37%.
Of more than 1,600 stocks on the TSE's prime market, 12% rose and 86% fell, with 1% trading flat.
($1 = 152.6700 yen)
Reporting by Junko Fujita; Editing by Rashmi Aich
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