Financial markets cheer US-China tariff cuts
Financial markets are welcoming the announcement of a US-China deal that reduces fears of a full-scale trade war.
The world's two biggest economies say they will significantly cut each other's additional tariffs and suspend some of them for a fixed period while continuing trade talks.
The agreement sparked a surge of buying on Japan's stock market. The benchmark Nikkei 225 closed on Tuesday at 38,183, up 1.4 percent, extending its winning streak for four trading days.
The gains in Tokyo follow a sharp rebound in New York equities on Monday, with the major indexes all gaining. The Dow Jones Industrial Average surged by 2.8 percent from Friday's close.
Investors also bought the dollar. The US currency briefly climbed to the mid-148 level against the Japanese yen, the highest in about one month.
Officials in Japan's government are now said to be analyzing the Washington-Beijing deal as they prepare for their own third round of tariff talks with the US.
Japanese Trade Minister Muto Yoji says the government will closely monitor developments.
Muto says: "I'd like to refrain from making a prejudgment on how the situation of other countries' talks will affect the negotiations between Japan and the US. The government will make the utmost effort to reach an early agreement while protecting Japan's national interests."
Meanwhile, some Japanese officials take the view that Washington may be shifting its tariff strategy amid concern it may slow the US economy.
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