Tokyo stocks fall in morning amid concerns over U.S. tax hike

Economy

Tokyo stocks retreated Friday morning, weighed by a fall overnight in U.S. shares on reports that the administration of U.S. President Joe Biden will propose a sharp increase in capital gains tax. The 225-issue Nikkei Stock Average shed 204.86 points, or 0.70 percent, from Thursday to 28,983.31. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 10.33 points, or 0.54 percent, at 1,912.17. Decliners were led by iron and steel, machinery, and oil and coal product issues.

Kyodo News

Kyodo News