Tokyo stocks end higher on optimism over US-China trade talks
TOKYO (Kodo) -- Tokyo stocks ended higher Monday, backed by hopes for easing trade tensions between the United States and China following their first ministerial-level talks since U.S. President Donald Trump imposed steep tariffs on imports.
The 225-issue Nikkei Stock Average ended up 140.93 points, or 0.38 percent, from Friday at 37,644.26. The broader Topix index finished 8.59 points, or 0.31 percent, higher at 2,742.08.
On the top-tier Prime Market, gainers were led by warehousing and harbor transportation service, mining and securities house issues.
The U.S. dollar remained firm against the yen in Tokyo, rising to above 147 yen later in the afternoon, as the Japanese currency, seen as a safe-haven asset, was sold on receding fears of an intensified trade conflict between the world's two largest economies, dealers said.
Tokyo stocks opened higher after China's official media reported that Beijing agreed with Washington during weekend trade talks in Geneva to establish an economic and trade mechanism. But they fell at one point into negative territory as some investors locked in gains following sharp advances on Friday, brokers said.
"While details of the meeting remain unknown, the development can be taken relatively positively as there seems to be a conciliatory mood," said Makoto Sengoku, senior equity market analyst at Tokai Tokyo Intelligence Laboratory Co.
Export-linked auto and machinery shares were supported by a weak yen, which increases exporters' overseas profits when repatriated.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Mainichi
31 minutes ago
- The Mainichi
G7 leaders may skip joint declaration, 1st since 2014: Japan source
TOKYO (Kyodo) -- The Group of Seven nations are likely to skip a joint statement at the end of an upcoming three-day summit in Canada, a Japanese government source said Tuesday, marking the first time since 2014 the meeting would conclude without a consensus document. The move is apparently aimed at preventing the G7, known for its unity in tacking global challenges, from exposing internal divisions as leaders gather for their first in-person meeting since U.S. President Donald Trump took office in January. Canada holds this year's rotating presidency of the G7, which also includes Britain, France, Germany, Italy, Japan and the United States plus the European Union. Fears are growing that the framework is becoming fragile as Trump pursues his "America First" policy. Instead of releasing a comprehensive statement, the G7 leaders may still consider mapping out documents on specific issues, according to the source. The gathering comes as Trump, who has promoted protectionist trade policies to prop up domestic industries, has moved to impose higher tariffs -- even on U.S. allies -- sparking concerns about global commerce and the broader economy. The G7 leaders normally discuss a range of issues, such as security, the economy and climate change.
Yomiuri Shimbun
32 minutes ago
- Yomiuri Shimbun
Trump Says He Will ‘Liberate' Los Angeles in Speech to Mark the 250th Anniversary of the Army
The Associated Press President Donald Trump speaks at Fort Bragg, Tuesday, June 10, 2025, in Fort Bragg, N.C. FORT BRAGG, N.C. (AP) — President Donald Trump called protesters in Los Angeles 'animals' and 'a foreign enemy' in a speech at Fort Bragg on Tuesday as he defended deploying the military on demonstrators opposed to his immigration enforcement raids and as he vowed to 'liberate' the West Coast city. Trump, in his most aggressive language yet regarding the protests, used a speech ostensibly supposed to be used to recognize the 250th anniversary of the U.S. Army to denounce the protesters while repeating his false statements about the 2020 election being rigged and attacking the previous commander in chief, former President Joe Biden. The Republican president, who sees the military as a critical tool for domestic goals, has used the recent protests in Los Angeles as an opportunity to deploy the National Guard and U.S. Marines over the objections of California's Democratic governor. Protesters blocked a major freeway and set cars on fire over the weekend in Los Angeles, but the demonstrations in the city of 4 million people have largely been centered in several blocks of downtown. 'We will not allow an American city to be invaded and conquered by a foreign enemy. That's what they are,' Trump said Tuesday. Trump's heated rhetoric came as he has left open the possibility of invoking the Insurrection Act, one of the most extreme emergency powers available to the president. It authorizes him to deploy military forces inside the U.S. to suppress rebellion or domestic violence or to enforce the law in certain situations. Trump received plenty of cheers from the crowd, which laughed at the president's jokes and delighted in his dancing to his campaign anthem of ' YMCA.' However, some members of the audience were uneasy with certain aspects of his remarks. Robin Boothe, who voted for Trump and works on the base as an audiology assistant, said the speech was 'classic Trump.' However, she also found it to be too partisan, especially his comments on Los Angeles. 'I thought that was better left for a news conference than what we were celebrating today,' the 50-year-old said. The president called Los Angeles 'a trash heap' with 'entire neighborhoods under control' of criminals and said the federal government would 'use every asset at our disposal to quell the violence and restore law and order.' 'We will liberate Los Angeles and make it free, clean and safe again,' Trump said. Trump authorized the deployment of 4,000 National Guard soldiers to the city against the wishes of California Gov. Gavin Newsom. About 700 Marines were deployed to the Los Angeles area but had not yet been sent to respond to the protests. Newsom asked a federal court Tuesday to block Trump from using the military in his city. California leaders accused Trump of fanning protesters' anger and stoking the unrest. Trump also announced his administration was restoring the names of seven military bases that were given the monikers of Confederate leaders until being changed by the Biden administration. Fort Pickett, Fort Robert E. Lee and Fort A.P. Hill in Virginia, Fort Hood in Texas, Fort Gordon in Georgia, Fort Rucker in Alabama and Fort Polk in Louisiana will have their names changed back, Trump said. Defense Secretary Pete Hegseth has already brought back the names of Fort Bragg and Fort Benning in Georgia. 'Can you believe they changed that name in the last administration for a little bit?' Trump said. 'We'll forget all about that.' As they did when they changed back Fort Bragg and Fort Benning, Defense officials announced Tuesday that they had identified service members with the same last names in order to make the change and not have the bases officially carry Confederate-related names. Before he spoke, Trump watched the U.S. Army demonstrate a missile strike, a helicopter assault and a building raid, a preview of the kind of show of American military might he's expected to display in the nation's capital for a massive military parade this weekend. Trump has promoted the Army's anniversary as a reason to hold the parade on Saturday, which is also his 79th birthday. Tanks and other vehicles will roll down city streets in a reminder of how the Republican president is reshaping the armed forces after returning to the White House this year. 'I think it's going to be great,' Trump told reporters at the White House earlier Tuesday. 'We're going to celebrate our country for a change.' As a backdrop to the parade, 'No Kings Day' protests are planned across the country on Saturday to push back against what critics see as the administration's draconian policies. Trump said earlier Tuesday that there would be more immigration raids and that any additional protests would be met with even greater force, including those who show up at the parade. If they do, Trump said, 'they will be met with very big force.' 'I haven't even heard about a protest but you know, this is people that hate our country. But they will be met with very heavy force.' Fort Bragg, which was briefly Fort Liberty and is near Fayetteville, North Carolina, serves as headquarters for the U.S. Army Special Operations Command. Highly trained units like the Green Berets and the 82nd Airborne are based there. The atmosphere resembled a state fair with military flair. Inflatable slides and attractions for children were set up in a field, with artillery, trucks and helicopters parked on another section of the lawn. Right outside the security checkpoint — but still on the base — two stands were selling Trump political hats, T-shirts and other paraphernalia. Hegseth and Army Secretary Dan Driscoll were also at Tuesday's event, along with service members, veterans and their families. Driscoll, who spoke to the crowd before Trump arrived, called the president 'the greatest recruiter in our Army's history.' Hegseth told the crowd that the U.S. is 'restoring the warrior ethos' to its armed forces. 'We're not a college or a university. We're not interested in your woke garbage and political correctness,' Hegseth said, drawing cheers.
The Mainichi
an hour ago
- The Mainichi
Toyota, Daimler ink Japanese truck units merger deal for April 2026
TOKYO (Kyodo) -- Toyota Motor Corp. and Daimler Truck Holding AG said Tuesday they concluded an agreement to merge their Japanese truck subsidiaries under a new holding company, aiming to boost competitiveness and better respond to challenges posed by energy transition and technological innovation. Hino Motors Ltd., a subsidiary of Toyota Motor, and Mitsubishi Fuso Truck and Bus Corp., a unit of Daimler, will operate under the holding company to be set up in April 2026 and listed on the Tokyo Stock Exchange's Prime Market, with the parent companies each holding a 25 percent stake in the new firm. The holding company yet to be named will have more than 40,000 employees and be led by Mitsubishi Fuso Truck CEO Karl Deppen, Toyota Motor and Daimler Truck said. In terms of voting rights, Daimler Truck will hold 26.7 percent and Toyota Motor will have 19.9 percent, they said. "With our combined expertise, passion and resources, this new company will provide new levels of quality, efficiency and technology to our customers," Deppen said at a press conference on the same day. Satoshi Ogiso, president of Hino Motors, said, "The industry for commercial vehicles has numerous issues that need to be addressed. We will require even more speed, flexibility and investment." The merger plan originally announced in May 2023, and initially slated to be finalized in March 2024, had stalled due to a fraudulent emissions data scandal by Hino Motors. Hino Motors has reported a record net loss of 217.7 billion yen ($1.5 billion) in the business year through this March due to settlement costs related to the data falsification. The issue came to light in 2022 as the company admitted to submitting fabricated emissions and fuel economy data to transport authorities. It has agreed to settle class action lawsuits in Australia, the United States and Canada.
