
Japan's Topix hits record high
The broader Topix rose 0.72% to 2,987.92. The Nikkei climbed 0.65% to 41,059.15.
Both indexes rose for a third consecutive session.
The three-day rally eclipsed a sharp decline on Monday, when the Nikkei posted its largest drop in two months.
'The market was too bearish, with concerns about the US tariff impact on domestic firms. But that sentiment was reversed,' said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory.
'And the weak economic data in the US raised expectations for the Federal Reserve's rate cut, which supported sentiment of both US and Japanese equities,' said Suzuki.
Sony Group jumped 4% to provide the biggest boost to the Topix, after the game and camera maker raised its full-year operating profit forecast by 4%.
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Express Tribune
4 hours ago
- Express Tribune
New Chinese EV maker enters Pakistan
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The minister emphasised that the government was focused on the promotion of EVs and wanted Punjab to play a leading role in the country's clean mobility transition. In 2023, the group, with its trading name Levdeo Automobile Group, applied for bankruptcy in China and completed its bankruptcy reorganisation in 2024. Auto sector experts believe that the group may want to relocate and make Pakistan its base for local sales and exports, since Pakistan, particularly Punjab, is offering decent incentives and has won the least US tariff of 19%. The arrival of Letin Auto adds to a growing list of Chinese EV makers entering Pakistan in recent years. Brands such as BYD, Changan and British brand MG have already introduced EV models in the local market, while others are exploring assembly and production options. Industry watchers believe this influx shows the growing confidence of Chinese companies in Pakistan's EV sector, which is still in its infancy, but holds significant potential due to the rising cost of fuel and the government's policy incentives. While consumers may welcome more choices, existing auto players are watching the development closely. An official of a Japanese-origin car assembler admitted that the entry of another Chinese automaker would intensify competition. "This means we cannot sit idle anymore. We have to accelerate our EV plans and bring affordable models to the market," he said. A senior executive representing another brand said that Chinese EVs, if priced competitively, could quickly capture market share. "Chinese companies have a reputation for speed and affordability. This will put pressure on established players, but in the long run it will benefit customers." Some local joint ventures are also preparing to join the EV race. A senior official of Hyundai Pakistan said that the company has already begun internal studies for introducing its EV line in Pakistan in the next few years. "Globally, Hyundai is moving aggressively towards electric mobility and Pakistan will not be left behind. The arrival of new Chinese players will further push us to bring our EV technology here sooner," he said. Industry experts believe that this competition will reshape the local auto landscape, forcing companies to move away from the comfort zone dominated by conventional combustion vehicles. At the same time, observers say, the rapid entry of multiple Chinese EV brands reflects a bigger trend where emerging economies like Pakistan are seen as promising markets for future growth. Car enthusiasts, meanwhile, see this as a welcome change. Salman Ali, an EV enthusiast from Lahore, said that affordable small EVs could be a game changer. "With fuel prices going up every month, people are desperate for alternatives. If these Chinese EVs are introduced at competitive prices, they will give the middle class a real chance to switch to cleaner mobility," he said. Analysts also point out that Pakistan's EV policy has given a significant push to this momentum. Reduced customs duties on EV parts and favourable tariff structures have already encouraged imports, but local assembly and manufacturing is the next step. If companies like Letin Auto move ahead with their projects, it will not only help reduce reliance on imports but also support the development of an entire supply chain, including battery and component industries. For Punjab, the benefits are clear. More foreign plants mean fresh jobs, technology transfer and a stronger industrial base. For consumers, it means more options on the showroom floor. For local auto assemblers, it signals a race against time to remain competitive. "Chinese companies don't just bring cars, they bring disruption. Those who adapt will survive, those who don't will be left behind," said the Japanese auto company official. Analysts further say that for decades, the market has been dominated by a few players offering limited choices, but the arrival of Chinese EV makers is breaking that pattern. Whether it is local assembler preparing its own electric models or new entrants promising affordable alternatives, the competition is set to redefine the way Pakistanis buy and use cars.


Business Recorder
9 hours ago
- Business Recorder
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Express Tribune
a day ago
- Express Tribune
Japan seeks investment incentives for automakers
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