Overall, ten percent is not as high as the sixty percent he was referring to. Naka Matsuzawa, chief macro strategist at Nomura, stated, “I believe the initial reaction was rather negative, but it still came in a more concrete way.”
Matsuzawa stated that the 25% tax proposals on imports from Canada and Mexico were likely more than the market anticipated.
According to him, exporters and industries linked to China, including machinery, will probably be more impacted.
Following the most recent tariff pledge, investors responded cautiously, causing exporter shares and chip-related firms to decline.
Advantest, a manufacturer of chip-testing equipment, was the biggest drag on the Nikkei, down 5.6%, and one of the top decliners by percentage. The Tokyo Electron fell 3%.
Among the largest percentage declines were Fujikura Ltd., a manufacturer of electronic components, which lost 6.8%, and Lasertec Corp., a manufacturer of semiconductor equipment, which sank 5.5%.
The two biggest automakers, Honda Motor and Toyota Motor, had declines of 1% and 2%, respectively.
The machinery industry saw an almost 2% decline. Kawasaki Heavy Industries saw a 4.3% decline, while Mitsubishi Heavy Industries faltered 3.5%.
The announcement that Japan’s space agency had delayed an engine combustion test of its Epsilon S rocket after a fire broke out at the test site also contributed to the 3.8% decline in IHI shares.
Six equities remained untraded, and the majority of Nikkei 225 members fell, with 164 decliners outnumbering 55 advancers.
