TOKYO, Nov 27 (Reuters) - Japan's Nikkei share average
fell on Wednesday, with automakers leading the losses, amid
concerns about the impact of U.S. President-elect Donald Trump's
tariff pledges and a stronger yen.
The Nikkei fell 0.72% to 38,165.85 by the midday
break, while the broader Topix lost 0.85% to 2,666.58.
On Monday, Trump pledged to impose new tariffs on imports
from Canada, Mexico and China, which strategists said raised
concerns that Japanese products might face a similar move.
"Wall Street was strong overnight but the Nikkei futures
trading on the CME (Chicago Mercantile Exchange)fell, which
suggested weak sentiment of foreign investors," said Yusuke
Sakai, a senior trader at T&D Asset Management.
Wall Street stocks, led by S&P 500 and the Nasdaq, ended
higher on Tuesday, as technology stocks rebounded, while
investors digested Trump's tariff pledges and the latest minutes
from the Federal Reserve.
"And the stronger dragged sentiment lower," Sakai said.
The yen rose from safe-haven bids amid turmoil in
the Middle East, trading last up 0.26% at 152.7 per dollar.
Automakers fell, with Toyota Motor ( TM ) falling 3.56% to
drag the Topix the most. Nissan Motor ( NSANF ) and Honda Motor ( HMC )
fell 5% and 3%, respectively.
The automakers' index slipped 3.23%.
Chip-testing equipment maker Advantest ( ADTTF ) fell 3.44%
to become the biggest drag on the Nikkei.
Sanrio ( SNROF ) tanked 13.7%, after the owner of 'Hello
Kitty' brand announced a sale of shares in the company.
Keisei Electric Railway ( KELRF ) rose 5.5% to become the top
gainer on the Nikkei, after the railway operator announced a
sale of shares in Oriental Land ( OLCLF ) worth 62 billion yen ($406.10
million).
Oriental Land ( OLCLF ), the operator of Tokyo Disneyland,
rose 4.37%.
Of more than 1,600 stocks on the TSE's prime market, 12%
rose and 86% fell, with 1% trading flat.
($1 = 152.6700 yen)