
Japanese markets end lower after gaining for two days
Industrial robot maker Yaskawa Electric slumped 6 percent to snap a three-day winning streak. Mitsubishi Motors plummeted almost 8 percent after first-quarter operating profit fell short of projections.
The yen declined as data showed Tokyo CPI inflation eased more than expected in July, complicating the Bank of Japan's interest-rate hike prospects.
Producer prices in Japan were up 3.2 percent on year in June, the Bank of Japan said on Friday. On a monthly basis, producer prices slipped 0.1 percent for the second straight month.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
26 minutes ago
- Time of India
Japanese investors ditch foreign stocks on US economic concerns, tariff tensions
Synopsis Japanese investors significantly reduced their holdings in foreign stocks, withdrawing 752.1 billion yen last week, amidst global market concerns over the U.S. economic outlook and new trade tariffs. This reverses a trend of net purchases, though year-to-date investments still show a substantial 3.37 trillion yen inflow. Simultaneously, they sold foreign long-term bonds.


Time of India
an hour ago
- Time of India
Markets rise as Trump chip exemptions boost tech giants
Academy Empower your mind, elevate your skills Asian equities rose Thursday, with big-name chip firms making big gains after Donald Trump said those investing in the United States would be exempted from a threatened 100% tariff on advances built on a strong lead from Wall Street and extended the previous day's rally fuelled by hopes the Federal Reserve will cut interest rates next month.A day before sweeping tariffs were due to come into effect on dozens of countries, the president said: "we're going to be putting a very large tariff on chips and semiconductors".He added that the level would be "100%" but did not offer a he said "the good news for companies like Apple is, if you're building in the United States, or have committed to build... in the United States, there will be no charge".Stock gains were led by Taiwan's giant TSMC, which surged almost five percent in early trade, with the island's National Development Council chief Liu Chin-ching saying the firm was in the clear."Because Taiwan's main exporter is TSMC, which has factories in the United States, TSMC is exempt," he told a briefing in which is ramping up manufacturing in Arizona, has pledged to invest as much as $165 billion in the United States, which the firm said in March was the "largest single foreign direct investment in US history".Seoul-listed Samsung, which is also pumping billions into the world's number one economy, rose more than two% while South Korean rival SK hynix was also firms were also helped after the US giant said it will invest an additional $100 billion in the United States, taking its total pledge to $600 billion over the next four and Pegatron both rose in Tokyo Electron and Renesas both retreated in Japanese trade."To some degree this outcome would be something of a relief," said Morgan Stanley analysts."Yes, 100% tariffs are unpalatable but if companies are given time to restore them, the real tax is just the higher cost of building chips in the United States."Trump's remarks came hours before his wide-ranging "reciprocal" tariffs are set to kick in against trading partners, and after he doubled his levy on India to 50% over its purchase of Russian tolls on Brazilian goods came into place Wednesday, with significant exemptions, after Trump targeted Latin America's biggest economy over its prosecution of former president Jair are keeping tabs on talks between the White House and New Delhi, as well as other countries including Switzerland, which was this week hammered with a 39% markets extended their recent run-up and have regained much of last week's losses sparked by the president's tariff announcements and weak US jobs Hong Kong, Shanghai, Singapore, Seoul and Wellington were all in the green, with Taipei leading the way thanks to the surge in gains followed a strong day on Wall Street, where Apple jumped more than five% and Amazon piled on four%.Traders had already been on a buying streak as they grew optimistic that the Fed will cut rates after data last week showing US jobs creation cratered in May, June and July, signalling the economy was weakening. US futures rose prices rose after Trump threatened penalties on other countries that "directly or indirectly" import Russian oil, after imposing his extra toll on traders are keeping tabs on developments regarding Moscow and its war in Ukraine after the US president said he could meet with Vladimir Putin "very soon" following what he called highly productive talks between his special envoy and the Russian leader.

Economic Times
an hour ago
- Economic Times
Japan's Topix hits record high on Wall Street rally, solid earnings
Japan's Topix index touched a record high on Thursday, tracking strong overnight gains on Wall Street, while solid corporate earnings from domestic firms reinforced expectations of wage growth. ADVERTISEMENT The broader Topix was up nearly 1% at 2,993.14, as of 0206 GMT. Earlier in the session, the benchmark index hit an all-time peak of 2,993.21. The Nikkei climbed 0.9% to 41,151.07. Both indexes were on track for a third consecutive session of gains, provided the current momentum holds. The three-day rally follows a sharp decline on Monday, when the Nikkei posted its largest drop in two months amid growing concerns over the U.S. economy and trade. "The market is now convinced that the U.S. economy will not slow down," said Hiroyuki Ueno, chief strategist, Sumitomo Mitsui Trust Asset Management. ADVERTISEMENT "That is important for the Bank of Japan's decision process for raising interest rates. With solid corporate earnings results and a trend for wage increases, the market now expects the BOJ to raise rates by the end of the year," Ueno said. However, government data released on Wednesday indicated that Japan's real wages fell for a sixth consecutive month in June, as inflation continued to outpace pay growth. The trend clouded the outlook for a BOJ policy shift, with wage growth seen as a key indicator for sustainable inflation. ADVERTISEMENT There is growing expectation that the U.S. Federal Reserve could begin cutting interest rates as early as September to support the economy. Shares of Mitsubishi UFJ Financial Group rose 1.8%, providing the biggest boost to the Topix, while Sumitomo Mitsui Financial Group gained 1.56%. ADVERTISEMENT M3's shares surged 22% after Goldman Sachs raised the target price for the medical services platform operator to 2,300 yen from 2,250 yen. Cosmetic maker Shiseido jumped 10%. ADVERTISEMENT Chip-making equipment maker Tokyo Electron fell for a third day, falling 2.7% on Thursday to weigh on the Nikkei the most. Chip-testing equipment maker Advantest fell 0.7%. Shares of chipmakers declined on concerns over a potential slowdown in global chip production after U.S. President Donald Trump said Washington would impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's Prime Market, 70% advanced and 26% fell, and 3% were flat. (You can now subscribe to our ETMarkets WhatsApp channel)