LOC11:50
08:50 GMT
TOKYO, Dec 10 (KUNA) -- Tokyo stocks plunged Monday to hit a one-month low on renewed US-China trade tensions and a downward revision to Japan's third-quarter gross domestic product (GDP).
The benchmark Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) lost 459.18 points, or 2.12 percent, from Friday to 21,219.50, the lowest closing level since Oct. 29. The broader Tokyo Stock Price Index, which includes all shares on the market's First Section on the TSE, was also down 30.64 points, or 1.89 percent, to 1,589.81.
Sell orders overwhelmed Tokyo stocks as White House trade adviser Peter Navarro said last week that the US would raise tariff rates on Chinese imports if the two countries fail to reach an agreement during a 90-day negotiating period, raising concerns over a fresh trade war. Investor sentiment was also dented after the government announced that Japan's GDP contracted at an annualized 2.5 percent in the July-September quarter, the steepest contraction since the second quarter of 2014. (end)
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