Tokyo stocks rise in morning on firm tech after Wall St. gains
TOKYO (Kyodo) -- Tokyo stocks rose Monday morning as heavyweight technology shares were boosted by gains among their U.S. counterparts on Wall Street late last week.
The 225-issue Nikkei Stock Average rose 395.48 points, or 1.05 percent, from Friday to 38,137.09. The broader Topix index was up 17.51 points, or 0.63 percent, at 2,786.84.
The U.S. dollar briefly weakened to the lower 144 yen range in Tokyo on selling after the currency approached the 145 yen line as stronger-than-expected U.S. May employment data, released Friday, reduced concerns about a slowdown in the labor market.
At noon, the dollar fetched 144.49-51 yen compared with 144.82-92 yen in New York and 143.90-92 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.1416-1419 and 164.95-165.02 yen against $1.1392-1402 and 165.00-10 yen in New York and $1.1426-1427 and 164.43-47 yen in Tokyo late Friday afternoon.
The Nikkei stock index topped the 38,000 threshold for the first time in more than a week as semiconductor-related shares tracked gains by their U.S. counterparts. Bank shares also moved higher on prospects of improved profits as Japanese bond yields rise.
But further gains were capped as investors awaited the outcome of U.S.-China trade talks in London on Monday to see whether the world's two largest economies can make progress in easing tensions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
25 minutes ago
Foreign Students in Japan Hit New Record in 2024
A study conducted by the Japan Student Services Organization, an independent administrative agency, found that there were 336,708 foreign students in Japan as of May 1, 2024, up 21% from the previous year. This was higher than in 2019, before the pandemic, and set a new record. The weak yen is thought to have encouraged more young people to choose to study in Japan. The number of foreign students in Japan rose steadily from 2013, reaching 312,000 in 2019. After falling during the pandemic, it started rising again in 2023. The 2024 figure includes a record 107,241 students enrolled in Japanese language schools. There were 229,467 at higher education institutions, of which 91,192 were undergraduates at universities or studying at junior colleges or colleges of technology ( kōtō senmon gakkō ), while 76,402 were at vocational colleges ( senmon gakkō ) and 58,215 were postgraduate students. An overwhelming 92.5% of students (311,566) were from Asia, ahead of 4.0% from Europe (13,312), and 1.3% from North America (4,516). The top country or region of origin was China, accounting for 36.7% of the total, with 123,485 students. It was followed by Nepal with 19.2% (64,816), Vietnam with 12.0% (40,323), Myanmar with 4.9% (16,596), South Korea with 4.3% (14,579), Sri Lanka with 3.6% (12,269), and Taiwan with 2.3% (7,655). The number of students from Nepal rose by more than 26,000 year on year. Overall, 55.3% of students were male and 44.6% female. Waseda University had the highest number of foreign students at 5,562, followed by the University of Tokyo with 4,793, Ritsumeikan University with 3,258, Kyoto University with 2,791, and Ritsumeikan Asia Pacific University with 2,776. (Translated from Japanese. Banner photo © Pixta.)
The Mainichi
44 minutes ago
- The Mainichi
Editorial: Amid global warming threat, Japan's financial sector must help protect planet
Neglecting climate change initiatives to appease the U.S. administration of Donald Trump will create a breeding ground for future problems. Major financial institutions in Japan and the U.S. have successively withdrawn from the Net-Zero Banking Alliance (NZBA), an international framework aiming for decarbonization. Following the departure of U.S. banks including Citigroup Inc., Japan's three megabanks, including Sumitomo Mitsui Financial Group Inc., followed suit this spring. The NZBA is a system that encourages financial institutions to select their investment and lending targets based on whether they are contributing to decarbonization, thereby promoting the exit of businesses with a large environmental impact, such as coal-fired power generation. It is expected that the initiative will prove effective in pushing for the realization of a carbon-free society with the power of finance to influence corporate activities. The tide has changed, however, with the return of Trump, who has dismissed the climate crisis as "fake." Criticism within the ruling Republican Party has grown over financial institutions aligning themselves to restrict investments and loans for fossil fuel businesses. In some U.S. states, there have been moves to exclude NZBA member banks from transactions, on the grounds their stance contradicts the Trump administration's energy policy. U.S. banks that have left the NZBA are already actively investing and lending for fossil fuel projects. The Japanese megabanks have not provided reasons for their departure, but it is believed that they became wary of the risk of their business in the U.S. being disadvantaged under the scrutiny of the Trump administration. The banks stress that they will strengthen climate change measures, but by following the lead of American banks, they cannot evade being labeled deceptive. The NZBA was launched in 2021 at the proposal of Mark Carney, former governor of the Bank of England and current Prime Minister of Canada. Leading financial institutions worldwide signed up, pledging to collaborate on decarbonization, aiming for net-zero greenhouse gas emissions by 2050. European banks that place an emphasis on climate change measures and many in emerging and developing countries have not withdrawn. Within Japan, Sumitomo Mitsui Trust Group Inc. remains a member of the alliance. The target of keeping the average global rise in temperatures to no more than 1.5 degrees Celsius compared to pre-industrial levels as a measure against global warming is under threat. It is essential to make efforts to keep international cooperation on decarbonization from backpedaling. Megabanks operating globally bear a responsibility to act with the planet's interests in mind.
Kyodo News
2 hours ago
- Kyodo News
Chinese carrier sails near Japan's easternmost island for 1st time
KYODO NEWS - 14 hours ago - 23:59 | All, World, Japan The Chinese aircraft carrier Liaoning has been spotted in the vicinity of Japan's easternmost island in the Pacific, the Japanese Defense Ministry said Sunday, noting that it is the first time that a Chinese carrier has sailed in those waters. The carrier, along with two destroyers and another vessel, was seen in waters about 300 kilometers southwest of Minamitori Island, which is approximately 1,900 km southeast of Tokyo, at around 6 p.m. Saturday. The area is within Japan's exclusive economic zone. The Liaoning then moved southwest and conducted landing and takeoff drills involving its fighter jets and helicopters on Sunday. The move comes as the Chinese navy is expanding its activities in waters around Japan. The Japanese government is stepping up its information-gathering and surveillance activities.
