Japan's Nikkei rises on Trump's tariff tone down, weaker yen
TOKYO: Japan's Nikkei share average rose on Friday as investors scooped up technology stocks after the White House softened its trade stance and the yen weakened after talks between Japan-US finance chiefs.
The Nikkei was up 1.4% at 35,518.96 as of 0221 GMT. For the week, the index is poised to rise 2.2%.
The broader Topix had risen 1.08% to 2,620.44 and is set to post a 2.35% weekly gain.
'With (US President Donald) Trump easing his tone about his tariff plans, investors have started looking into other factors, such as corporate earnings and outlook of the chip industry,' Yusuke Sakai, a senior trader at T&D Asset Management.
After tit-for-tat tariffs put an effective embargo on trade between the US and China, the United States this week shifted tone and said the situation would be unsustainable.
China, however, has said it has not held trade talks with Washington, despite comments to the contrary from US President Donald Trump, and has warned other countries against striking deals with the US that come at China's expense.
'The finance chiefs of Japan and the US have made no deals about the currency levels. That eased worries that the yen could rise further and improved sentiment for the equities,' Sakai said.
Tech, autos boost Japan's Nikkei on receding trade war worries
Japanese Finance Minister Katsunobu Kato said on Thursday he agreed with US Treasury Secretary Scott Bessent to continue 'constructive' dialogue on currency policy, but did not discuss setting currency targets or a framework to control yen moves.
The yen was last down 0.23% at 142.94 against the dollar, after hitting a seven-month high of 139.885 this week.
Among individual stocks, electric motor maker Nidec surged 10% and was the biggest percentage gainer in the Nikkei after it reported a larger-than-expected quarterly profit and forecast a record annual operating profit.
Fujitsu jumped 5.17% after the computer maker said its annual net profit for the year to March 2026 will be up 77% from the previous year.
Chip-related stocks Tokyo Electron and Advantest rose 3.53% and 3.5%, respectively, providing the biggest boost to the Nikkei.
On the other hand, truck maker Hino Motors fell 5.7% and was the worst performer on the index.
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