Japan stocks hit 1 year high on US trade deal, Ishiba speculation
JADA NAGUMO
TOKYO -- Japanese stocks jumped more than 3% Wednesday to reach a one-year intraday high, as a trade deal between Tokyo and Washington brought relief to investors. Speculation over the likelihood that Prime Minister Shigeru Ishiba will resign also pushed the yen lower, while propelling stocks higher.
U.S. President Donald Trump said the two countries reached a deal under which Japan will invest $550 billion in the U.S. and pay a 15% 'reciprocal' tariff on exports. Washington had previously announced a 25% tariff that was to go into effect on Aug. 1.
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SoraNews24
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