April 6, 2018 / 6:56 AM / a year ago

Japan shares dented by fresh Trump tariff threat, but up on week

TOKYO, April 6 (Reuters) - Japanese share prices fell on Friday after U.S. President Donald Trump proposed fresh tariffs on $100 billion of imports from China in an escalating trade dispute, but the benchmark Nikkei index managed to post a gain for the week.

The Nikkei share average ended down 0.4 percent at 21,568 points, after briefly hitting a three-week intraday high of 21,743 earlier in the session.

For the week, it ended up half a percent.

Trump on Thursday directed U.S. trade officials to identify tariffs on $100 billion more Chinese imports, upping the ante in an already high-stakes trade confrontation between the world’s two largest economies.

The broader Topix fell 0.31 percent to 1,719.

Shippers fell 1.3 percent, extending this week’s losses to 3.5 percent as the Baltic dry index of freight charges dropped to an eight-month low on fears the U.S.-China dispute could flare into a full-blown trade war.

Semiconductor shares also fared poorly as U.S. tech stocks have been weighed by concerns of more regulation. Sumco fell 3.9 percent while Shin-etsu Chemical dropped 2.7 percent. (Reporting by Tokyo Markets Team; Editing by Kim Coghill)

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