Japan’s stock market became the world’s second-biggest on Friday, overtaking China. Intra-day data showed Japanese stocks were worth $6.17 trillion, while Chinese stocks lagged behind with $6.09 trillion.
The United States leads the list with a little over $31 trillion, according to Bloomberg. Chinese equities came under pressure this year as trade tensions with the US contributed to uncertainty and loss of overall value. Negotiations between the two countries failed repeatedly, and the latest developments slow little promise for a quick resolution.
On Wednesday, US President Donald Trump directed Trade Representative Robert Lighthizer to consider raising future tariffs on $200 billion worth of Chinese imports from 10% to 25%, and China promised to retaliate.
