Japan's TOPIX Index surpasses 3000 points for first time
The Japanese TOPIX index crossed the 3000-point mark for the first time in its history today, Friday, supported by greater clarity regarding U.S. trade policy alongside strong earnings reports from several major companies.
The broader TOPIX index rose 1.7% to reach a record high of 3038.84 points despite losing momentum in the afternoon session, closing the day with a 1.2% gain.
This rise was driven by strong performance in the automobile sector, led by Toyota shares, which increased by 3.5%.
Meanwhile, the Nikkei index, which focuses on technology sector stocks, climbed 2.4% during the session to 42,033.92 points — its highest level since July 24 — before ending the trading day with a 1.9% gain.
The surge came after Japan's trade negotiator, Ryosei Akazawa, announced that the United States has pledged to amend an executive order to avoid overlapping tariffs on Japanese goods.
Notably, as part of the trade agreement reached between Japan and the U.S. last month, Washington will reduce tariffs on Japanese car imports from 27.5% to 15%.
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