[TOKYO] Japan's Nikkei tumbled to a more than a three-month low on Tuesday morning, as China defied Washington by announcing retaliatory tariffs, dragging most sectors into negative territory.
The Nikkei share average dropped 0.7 per cent to 21,036.92 at the midday break, after falling to as low as 20,751.45, the lowest since mid-February. It is near downside support at 20,756, 5 per cent below its 25-day moving average, a level considered to be oversold. Manufacturers with large exposure to China were volatile, with Komatsu flat at 2,374.5 yen after slumping 4 per cent earlier, and Fanuc up 0.1 per cent after dropping 2.9 per cent in early trade. Yaskawa Electric rose 0.7 per cent after sliding 4.5 per cent.
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