Nikkei index drops 1.3% as Trump announces new tariffs

Japan's Nikkei share average fell 1.3% to 38,260.38 on Tuesday, reacting to U.S. President-elect Donald Trump's announcement of new tariffs. The broader Topix index also dropped 1.3% to 2,681.66. Trump plans to impose a 25% tariff on imports from Canada and Mexico and a 10% tariff on Chinese goods. This news led to declines in exporter shares and sectors related to China, particularly machinery and electronics. Major companies like Advantest, Tokyo Electron, and Fujikura saw significant losses, with Advantest down 5.6%. Overall, 164 stocks in the Nikkei 225 declined, while only 55 advanced.