Tokyo stocks fall to five-month low on trade war fears

TOKYO, March 23 (KUNA) -- Tokyo stocks plunged Friday to hit a five-month low after US President Donald Trump announced heavier tariffs on Chinese imports, which sparked fears of a global trade war. The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) lost 974.13 points, or 4.51 percent, from Thursday to 20,617.86, the lowest closing level since October 3.
The broader Tokyo Stock Price Index, which includes all shares on the market's First Section on the TSE, was also down 62.45 points, or 3.62 percent, to 1,664.94, with all 33 sectors on the TSE losing ground. Sell orders overwhelmed Tokyo stocks as Trump signed a presidential memorandum on Thursday to impose tariffs on up to USD 60 billion in Chinese goods. In retaliation, China announced Friday its plans to impose tariffs on up to USD 3 billion of US imports, raising worldwide fears of a trade war. (end) mk.hs