Japan stocks jump 2% as investors welcome US-China trade truce
TOKYO -- Stocks roared back to life in Japan on Tuesday morning following an agreement between the U.S. and China to temporarily lower tariffs they have imposed on each other's exports, easing investor concerns about an escalating trade war.
The benchmark Nikkei Stock Average at one point rose more than 800 points, or 2%, and touched its highest intraday level in over a month. The gains were led by banks, marine shipping and exporters, including automakers. The broader Tokyo Stock Price Index also jumped close to 2%, while futures on the Osaka exchange were up more than 2%.
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The Mainichi
4 hours ago
- The Mainichi
Tokyo stocks climb on hopes US-China trade tensions ease
TOKYO (Kyodo) -- Tokyo stocks climbed Friday on hopes of easing U.S.-China trade tensions after the leaders of the world's two largest economies agreed to resume talks soon. The 225-issue Nikkei Stock Average ended up 187.12 points, or 0.50 percent, from Thursday at 37,741.61. The broader Topix index finished 12.86 points, or 0.47 percent, higher at 2,769.33. On the top-tier Prime Market, gainers were led by construction, iron and steel, and land transportation issues. The U.S. dollar briefly strengthened to the lower 144 yen range in Tokyo, supported by receding concerns about the U.S. economic outlook after President Donald Trump and Chinese President Xi Jinping held phone talks, dealers said. Stocks of some companies operating in China rose as talks between the U.S. and Chinese leaders raised hopes for progress in tariff negotiations and eased concerns about the levies' economic impact, brokers said. "Even a slight easing of tensions helped lift such shares," said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank. "But buying lacked energy as investors were uncertain on whether the talks are really heading in a good direction." The market was also supported by gains in export-oriented auto and machinery shares, as the weaker yen raised expectations of stronger overseas earnings when repatriated. Meanwhile, many investors adopted a wait-and-see stance ahead of key U.S. jobs data due later in the day after employment-related figures released earlier this week came in weaker than expected, brokers said.
The Mainichi
8 hours ago
- The Mainichi
Tokyo stocks rise on hopes for easing US-China trade tensions
TOKYO (Kyodo) -- Tokyo stocks rose Friday morning on hopes for an easing of trade frictions between the United States and China after the leaders of the world's two largest economies agreed to hold a new round of trade talks soon. The 225-issue Nikkei Stock Average gained 176.18 points, or 0.47 percent, from Thursday to 37,730.67. The broader Topix index was up 15.34 points, or 0.56 percent, at 2,771.81. The U.S. dollar mostly remained firm in the upper 143 yen range in Tokyo, supported by receding concern about the U.S. economic outlook after President Donald Trump and Chinese President Xi Jinping held phone talks, dealers said. At noon, the dollar fetched 143.83-86 yen compared with 143.57-67 yen in New York and 143.34-36 yen in Tokyo at 5 p.m. Thursday. The euro was quoted at $1.1437-1438 and 164.50-55 yen against $1.1438-1448 and 164.20-30 yen in New York and $1.1412-1413 and 163.59-63 yen in Tokyo late Thursday afternoon. Stocks climbed as the talks between the U.S. and Chinese leaders fueled hopes for progress in their nation's tariff negotiations. Export-oriented auto and machinery shares climbed on the weaker yen, which increases exporters' overseas profits when repatriated. The Nikkei index was boosted by heavyweight semiconductor-related issues on expectations for robust artificial intelligence-related demand after a major U.S. chip firm released stronger-than-expected earnings results, brokers said.
The Mainichi
11 hours ago
- The Mainichi
Tokyo stocks open up on hopes for easing of US-China trade tensions
TOKYO (Kyodo) -- Tokyo stocks opened higher Friday, lifted by hopes for an easing of trade frictions between the United States and China after U.S. President Donald Trump and Chinese President Xi Jinping held phone talks. In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 138.49 points, or 0.37 percent, from Thursday to 37,692.98. The broader Topix index was up 12.39 points, or 0.45 percent, at 2,768.86. On the top-tier Prime Market, gainers were led by land transportation, insurance and construction issues. At 9 a.m., the U.S. dollar fetched 143.54-59 yen compared with 143.57-67 yen in New York and 143.34-36 yen in Tokyo at 5 p.m. Thursday. The euro was quoted at $1.1452-1454 and 164.38-47 yen against $1.1438-1448 and 164.20-30 yen in New York and $1.1412-1413 and 163.59-63 yen in Tokyo late Thursday afternoon.
