TOKYO: Japan’s Nikkei share average ended higher in volatile trading on Tuesday, as investors found comfort in the possibility of a delay in tariff implementation by US President Donald Trump.
The Nikkei closed 0.32% higher at 39,027.98, after rising as much as 0.86% earlier in the session.
The index flitted in and out of positive territory in early Asian hours. It also dropped about 0.66% after Trump said he was considering imposing 25% tariffs on Mexico and Canada as soon as Feb. 1. “After all, the issue about the new tariff was not new so the Nikkei’s gains and declines were both limited,” said Naoki Fujiwara, senior fund manager at Shinkin Asset Management.
The broader Topix ended flat at 2,713.5.
Uniqlo-brand owner Fast Retailing rose 1.09% to provide the biggest boost to the Nikkei. Shares of chip-making equipment maker Tokyo Electron ended 1.44% higher.
Drugmaker Chugai Pharmaceutical fell 1.79% to be the biggest drag in the benchmark index.
Comments
Comments are closed.