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Yahoo
24-07-2025
- Automotive
- Yahoo
Asian markets rise, Toyota up by 14% after US tariff deal
The world's biggest economy, the US, and the fourth-largest, Japan, have agreed on a trade deal causing Asian shares to surge, with carmakers leading the way on the prospects of lower tariffs. The US and Japan agreed to put a 15% import duty on goods imported from Japan, apart from certain products such as steel and aluminium that are subject to much higher tariffs. That's down from the 25% that Trump had said would take effect on 1 August if a deal was not reached. This boosted investors' sentiment, resulting in Tokyo's Nikkei stock index rising by nearly 3.9% in the morning in Europe, the Asia Dow increasing by 2.7%, and Hong Kong's Hang Seng jumping 1.3%, while the Shanghai Composite index gained 0.4%. The real trade booster came from the car sector, media reports suggested that Japanese car exports to the US could be subject to a lower tariff than their global competitors. However, key details of the deal remain unclear; Japanese broadcaster NHK reported that the overall tariff rate on autos would be 15%. This could replace the current 25% tariff combined with the 2.5% duty, which is currently imposed on all imported cars in the US. The news fuelled investors' hopes for the future of the biggest Japanese carmakers, pushing Toyota's shares up by more than 14.3%, Honda's shares soared by 11.1%, and Nissan gained nearly 8.3% by the close of Asian trading. There was a chorus of no comments from the Japanese automakers, despite the latest announcement, including Toyota Motor Corp, Honda Motor Co and Nissan Motor Corp. Japanese companies tend to be cautious about their public reactions, and some business officials have privately remarked in off-record comments that they hesitate to say anything because Trump keeps changing his mind. Related Japan is facing slowing exports and trade deficit amid threat from Trump's tariffs Trump announces trade deal with Japan that lowers threatened tariff to 15% Trump: The US is looking at 'hundreds of thousands of jobs' "This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it," Trump posted on Truth Social, noting that Japan was also investing "at my direction" $550 billion (€468.7bn) into the US. He said Japan would "open" its economy to American autos and rice. Japan's Prime Minister Shigeru Ishiba welcomed the agreement as beneficial to both sides. So far, the US economy appears to be powering through the 'tariff uncertainty' as many of Trump's proposed taxes on imports are currently on hold, and the next major deadline is 1 August. Talks are underway on possible trade deals with other countries that could lower the stringent proposals before they take effect. "President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least," Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. What happened in the US markets overnight? On Tuesday, the US stock market inched closer to another record following some mixed profit reports, as General Motors and other big US companies provided updates on how much Trump's tariffs are hurting or helping them. The S&P 500 added 0.1% to the all-time high it had set the day before. The Dow Jones Industrial Average rose 0.4%, but the Nasdaq composite slipped 0.4% from its own record. In the bond market, US Treasury yields sank as traders continue to expect the Federal Reserve to wait until September at the earliest to resume cutting interest rates. The yield on the 10-year Treasury eased to 4.34% from 4.38% late Monday. In other dealings early Wednesday, US benchmark crude oil WTI was down nearly 1.5% at $65.22 a barrel. Brent crude, the international standard, was also slightly down by 0.07% at $68.54 a barrel in the morning in Europe. In currency trading, the US dollar inched up to 146.92 Japanese yen from 146.64 yen. The euro cost $1.1737, down from $1.1754.
Euronews
23-07-2025
- Automotive
- Euronews
Asian markets rise, Toyota up by 14% after US tariff deal
The world's biggest economy, the US, and the fourth-largest, Japan, have agreed on a trade deal causing Asian shares to surge, with carmakers leading the way on the prospects of lower tariffs. The US and Japan agreed to put a 15% import duty on goods imported from Japan, apart from certain products such as steel and aluminium that are subject to much higher tariffs. That's down from the 25% that Trump had said would take effect on 1 August if a deal was not reached. This boosted investors' sentiment, resulting in Tokyo's Nikkei stock index rising by nearly 3.9% in the morning in Europe, the Asia Dow increasing by 2.7%, and Hong Kong's Hang Seng jumping 1.3%, while the Shanghai Composite index gained 0.4%. The real trade booster came from the car sector, media reports suggested that Japanese car exports to the US could be subject to a lower tariff than their global competitors. However, key details of the deal remain unclear; Japanese broadcaster NHK reported that the overall tariff rate on autos would be 15%. This could replace the current 25% tariff combined with the 2.5% duty, which is currently imposed on all imported cars in the US. The news fuelled investors' hopes for the future of the biggest Japanese carmakers, pushing Toyota's shares up by more than 14.3%, Honda's shares soared by 11.1%, and Nissan gained nearly 8.3% by the close of Asian trading. There was a chorus of no comments from the Japanese automakers, despite the latest announcement, including Toyota Motor Corp, Honda Motor Co and Nissan Motor Corp. Japanese companies tend to be cautious about their public reactions, and some business officials have privately remarked in off-record comments that they hesitate to say anything because Trump keeps changing his mind. Trump: The US is looking at 'hundreds of thousands of jobs' "This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it," Trump posted on Truth Social, noting that Japan was also investing "at my direction" $550 billion (€468.7bn) into the US. He said Japan would "open" its economy to American autos and rice. Japan's Prime Minister Shigeru Ishiba welcomed the agreement as beneficial to both sides. So far, the US economy appears to be powering through the 'tariff uncertainty' as many of Trump's proposed taxes on imports are currently on hold, and the next major deadline is 1 August. Talks are underway on possible trade deals with other countries that could lower the stringent proposals before they take effect. "President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least," Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. What happened in the US markets overnight? On Tuesday, the US stock market inched closer to another record following some mixed profit reports, as General Motors and other big US companies provided updates on how much Trump's tariffs are hurting or helping them. The S&P 500 added 0.1% to the all-time high it had set the day before. The Dow Jones Industrial Average rose 0.4%, but the Nasdaq composite slipped 0.4% from its own record. In the bond market, US Treasury yields sank as traders continue to expect the Federal Reserve to wait until September at the earliest to resume cutting interest rates. The yield on the 10-year Treasury eased to 4.34% from 4.38% late Monday. In other dealings early Wednesday, US benchmark crude oil WTI was down nearly 1.5% at $65.22 a barrel. Brent crude, the international standard, was also slightly down by 0.07% at $68.54 a barrel in the morning in Europe. In currency trading, the US dollar inched up to 146.92 Japanese yen from 146.64 yen. The euro cost $1.1737, down from $1.1754.
Yahoo
12-05-2025
- Business
- Yahoo
FTSE 100 lags behind Europe in stock markets' response to US-China trade deal announcement
Global stock markets have reacted positively to the news that the US and China have come to an initial agreement over a trade deal, hot on the heels of the UK-US agreement announced last week. Overnight, the Asia Dow closed almost 1.2 per cent up, with Japan's Nikkei 225 up 0.4 per cent and Hong Kong's Hang Seng index almost a full three per cent higher. In Europe, the morning trading has seen a similar reaction with Germany's DAX and France's CAC 40 leading the way, both just under one per cent in the green at 10am BST - though the FTSE 100 lagged slightly, up around half a per cent at the same time having initially opened considerably higher. Meanwhile, the US futures markets show the major indices also poised to open higher, with the S&P 500 pricing more than 2.5 per cent higher than Friday's close on the news and the Nasdaq rising up to 3.7 per cent higher. 'Markets have welcomed the tentative US-China trade agreement with open arms,' said Russ Mould, investment director at AJ Bell. 'While the trade spat has only been dialled back for 90 days, it's a major breakthrough as far as investors are concerned. The fact the two countries were talking was already a major win given they've been at each other's throats during the first and second Trump presidential terms. 'Some people thought the best-case outcome from the weekend's discussions would be an agreement to simply keep talks going. Therefore, to have reached an initial deal so quickly and one that rolls back tariffs by a large amount is a pleasant surprise.' US treasury secretary Scott Bessent revealed the agreement of a 90-day pause, with tariffs set to come down by over 100 percentage points to a 10 per cent baseline, though it appears there will still be a 30 per cent tariff on China goods entering the US. 'Both countries represented their national interest very well,' Mr Bessent said. 'We both have an interest in balanced trade, the US will continue moving towards that. What had occurred with these very high tariffs... was the equivalent of an embargo, and neither side wants that. We do want trade.' Last week, the UK-US deal left a 10 per cent tariff in place, so a total removal of China's tariff was unlikely to be on the cards. For investors, however, even the possibility of a deal - and the rapid way these initial talks led to an outcome viewed positively by both - has quickly meant share-buying is back on the table. That is evidenced in Amazon, for example, being up almost eight per cent in pre-trading, having fallen 12 per cent since the start of 2025 as talks of the trade war escalated even before Liberation Day. On the London Stock Exchange, Asia-focused bank Standard Chartered was the biggest riser by mid-morning, up 7.4 per cent after the agreement news. 'As ever, it's clear that these deals aren't even sided. That's the same percentage point reduction as on the other side of the coin, but the US is still subject to lower tariffs,' Mr Mould explained. 'The next 90 days are going to be crucial in determining the longer-term tariff levels between the two countries. It would only take China upsetting Trump once for him to rip up the 90-day deal and revert back to sky-high tariffs. 'China won't want to come across as weak in any discussion and is certainly not a pushover, yet it will be cognisant of the situation's fragility.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
02-05-2025
- Business
- Business Standard
Stock Market LIVE: Nifty, Sensex may open higher tracking positive global cues; GIFT Nifty up 11pts
Stock Market LIVE updates: Asian markets were buzzing in trade, tracking Wall Street. Nikkei led with a gain of 1.10 per cent, followed by Asia Dow of 0.72 per cent, ASX 200 up 0.63 per cent Stock Market LIVE on Friday, May 2, 2024: Benchmarks Sensex and Nifty50 may start on a positive note on Friday, tracking strong global cues. At 7:40 AM, GIFT Nifty futures were up at 24,430, higher by 11 points. Asian markets were buzzing in trade, tracking Wall Street. Nikkei led with a gain of 1.10 per cent, followed by Asia Dow of 0.72 per cent, ASX 200 up 0.63 per cent, and Kospi up 0.11 per cent. Shanghai Composite, on the other hand, traded lower by 0.32 per cent. ALSO READ: Top Stocks to Watch Today: Eternal, Adani Ports, NCC, JSW Infra, auto stocks Meanwhile, overnight in the US, major indices settled higher, with tech-heavy Nasdaq leading the charge. Nasdaq ended 1.52 per cent higher, while Dow Jones settled 0.21 per cent higher, and S&P 500 closed 0.63 per cent higher. US 10-year Treasury yields rose to 4.23 per cent despite signs of economic contraction and flat inflation in March. Safe-haven gold slipped to a two-week low amid easing trade tensions and a holiday in top consumer China. In the primary markets, basis of allotment of Ather Energy IPO shares is scheduled to be finalised today. Among the SME segment, Wagons Learning IPO opens for public subscription today. Besides this, the basis of allotment of Iware Supply Chain Services IPO shares will be finalised today. Meanwhile, Kenrik Industries IPO and Arunaya Organics IPO will enter their third day of subscription. Indian equity markets responded in counter-intuitive fashion to the tariff war and lukewarm corporate results. The benchmark Nifty50 was up 3.5 per cent month-on-month in April, despite a steep correction around the 'Liberation Day'. READ MORE 7:54 AM Stock Market LIVE Updates: Asian markets trade higher First Published: May 02 2025 | 7:46 AM IST
