NIKEEI slides, markets focus on weakening pace of growth in Japanese exports

Japanese stocks slipped today in an overall steady movement in Asian markets as the yen continued to strengthen. Japanese NIKEEI index dropped 0.61% on day. Markets were also worried about the weakening pace of growth in Japanese exports. Japan's exports grew at a slower pace in April largely due to the higher tariffs imposed by the US administration. Exports climbed 2% on a yearly basis in April, slower than the 4% increase in March, the Ministry of Finance reported. Meanwhile, imports also declined 2.2%, in contrast to the 1.8% increase in the previous month. As a result, the trade balance showed a deficit of JPY 115.85 billion compared to a surplus of JPY 559.43 billion in March. In the same period last year, the deficit totaled JPY 504.69 billion. Meanwhile, in overnight trades, US stocks fell as tech stocks eased. The Dow dipped 0.3% to end three consecutive sessions of gains. Rising Treasury yields also weighed on the moos as President Trump increased the pressure on House Republicans to pass his sweeping bill to extend trillions of dollars of tax cuts and slash government spending.

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