Tokyo: Tokyo stocks plunged on Monday as concerns over the impact of U.S. tariffs on the global economy led to a broad sell-off, particularly in auto stocks.
The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed down 1,052.40 points, or 2.66 percent, to end at 39,572.49.
In a reaction to US President Donald Trump’s decision to impose tariffs on Mexico, Canada, and China, short-term overseas investors sold stock index futures to hedge risks, further pressuring the Nikkei.
Major automakers such as Toyota, Nissan, Honda, and Mazda saw declines due to concerns over the impact of tariffs on their earnings.
Despite the overall market decline, some individual stocks showed resilience. SoftBank Group and its telecom unit, SoftBank, rose slightly after announcing a partnership with OpenAI to launch a new AI service for enterprises.
The broader Tokyo Stock Price Index (TOPIX) also declined, closing 68.27 points, or 2.45 percent, lower at 2,720.39.
Among the listed stocks on the Tokyo Stock Exchange’s Prime Market, 1,470 declined, while 154 rose, and 15 remained unchanged.
UNI
