Tokyo stocks drop on Wall St. losses amid US tariff concern
The 225-issue Nikkei Stock Average fell 99.96 points, or 0.25 percent, from Friday to 39,469.72. The broader Topix index was down 0.25 point, or 0.01 percent, at 2,822.99.
The U.S. dollar briefly weakened to the upper 146 yen zone in Tokyo as the Japanese currency, seen as a safe-haven asset, was sold as Tokyo stocks declined, dealers said.
At noon, the dollar fetched 147.26-30 yen compared with 147.37-47 yen in New York and 146.85-87 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.1673-1675 and 171.92-96 yen against $1.1687-1697 and 172.12-22 yen in New York and $1.1689-1691 and 171.66-70 yen in Tokyo late Friday afternoon.
The stock market was pressured by concern over the prospects for the global economy after U.S. President Donald Trump said Saturday that he plans to impose 30 percent tariffs on goods imported from the European Union and Mexico starting on Aug. 1.
Some investors also took a wait-and-see stance ahead of the House of Councillors election on Sunday, amid worries that Japan's fiscal health might worsen if the ruling coalition fails to maintain majority control of the upper house, brokers said.
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