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The Mainichi
3 days ago
- Business
- The Mainichi
Tokyo stocks drop as US tariff uncertainty weighs
TOKYO (Kyodo) -- Tokyo stocks dropped Friday, weighed by uncertainty over U.S. tariffs following diverging court decisions on the legality of the levies imposed by President Donald Trump, but shares sensitive to domestic demand attracted buying. The 225-issue Nikkei Stock Average ended down 467.88 points, or 1.22 percent, from Thursday at 37,965.10. The broader Topix index finished 10.45 points, or 0.37 percent, lower at 2,801.57. On the top-tier Prime Market, decliners were led by electric appliance, precision instrument and service issues. The U.S. dollar briefly weakened to the mid-143 yen range in Tokyo after long-term U.S. Treasury yields declined due to growing uncertainty over U.S. tariff policy, dealers said. On the stock market, sentiment was dampened after a U.S. federal appeals court allowed the Trump administration to maintain its most sweeping tariffs for the time being, a day after a lower court's move to block the levies sharply boosted the market on Thursday. The Nikkei index briefly lost more than 600 points as heavyweight semiconductor-related issues were sold after sharp gains the previous day, while some export-oriented auto and electronics issues also fell on the yen's appreciation. But stocks trimmed some losses in the afternoon, with investors buying domestic demand-related shares such as pharmaceutical and agricultural issues, which are less sensitive to a stronger yen, brokers said. Considering that U.S. tariff rates on Japanese imports are unlikely to go higher as the two governments hold talks, "it has come to a point that their impact on the domestic economy can be factored in to some extent," said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co.
The Mainichi
13-05-2025
- Business
- The Mainichi
Nikkei ends at 2.5-month high as US-China trade conflict eases
TOKYO (Kyodo) -- The Nikkei stock index climbed for the fourth straight day to end at a 2.5-month high above 38,000 on Tuesday, as caution over the U.S.-China trade conflict eased after the countries agreed to lower their new tariffs significantly. The 225-issue Nikkei Stock Average ended up 539.00 points, or 1.43 percent, from Monday at 38,183.26, its highest level since Feb. 27. The broader Topix index finished 30.06 points, or 1.10 percent, higher at 2,772.14. On the top-tier Prime Market, gainers were led by marine transportation, pharmaceutical, and warehousing and harbor transportation service issues. The U.S. dollar mostly remained strong around the 148 yen line in Tokyo, after hitting a one-month high of 148.65 yen in New York overnight, as receding concerns over the U.S.-China trade conflict continued to support dollar buying. The yield on the benchmark 10-year Japanese government bond hit a one-month high of 1.465 percent as the debt was sold following a rise in U.S. Treasury yields, reflecting weakening demand for an asset class considered safer than stocks. Shares jumped following an overnight Wall Street surge after Washington and Beijing announced Monday that they would cut their hefty tariff rates on each other by 115 percentage points and suspend part of their so-called reciprocal duties for 90 days. "The market reacted positively to the larger-than-expected cuts of their tariffs," as they likely prioritized avoiding immediate impact on the economy and market, said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co. The market was supported by export-oriented auto and electronics issues that drew buying on a weaker yen, which increases exporters' overseas profits when repatriated. The Nikkei benchmark surged over 2 percent in early trading but later trimmed some gains, as some investors took profits amid unclear prospects of trade negotiations between the United States and other countries and the impact of tariffs on corporate earnings, Sawada said.
The Mainichi
13-05-2025
- Business
- The Mainichi
Nikkei index briefly soars over 2% as US-China trade tensions ease
TOKYO (Kyodo) -- The Nikkei stock index briefly soared over 2 percent Tuesday morning, boosted by buying on an easing of trade tensions after China and the United States agreed to significantly lower their recent new tariffs. The 225-issue Nikkei Stock Average rose 652.60 points, or 1.73 percent, from Monday to 38,296.86. The broader Topix index was up 33.94 points, or 1.24 percent, at 2,776.02. The U.S. dollar remained strong around the 148 yen line in Tokyo after hitting a one-month high of 148.65 yen in New York overnight, as dollar buying was fueled by receding concern over the U.S.-China trade conflict. At noon, the dollar fetched 147.96-97 yen compared with 148.40-50 yen in New York and 147.91-93 yen in Tokyo at 5 p.m. Monday. The euro was quoted at $1.1102-1103 and 164.27-29 yen against $1.1082-1092 and 164.59-69 yen in New York and $1.1104-1106 and 164.25-29 yen in Tokyo late Monday afternoon. The yield on the benchmark 10-year Japanese government bond hit a one-month high of 1.465 percent as the debt was sold following a rise in U.S. Treasury yields, reflecting weakening demand for an asset class considered safer than stocks. Stocks tracked an overnight surge on Wall Street after Washington and Beijing decided to cut their tariff rates on each other by 115 percentage points and suspend part of their so-called reciprocal duties for 90 days, brokers said. "The market reacted positively to the larger-than-expected cuts of their tariffs," said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co. The benchmark Nikkei rose above 38,000 for the first time since March 26 on an intraday basis, helped by buying of export-linked auto issues on a weaker yen, which increases exporters' overseas profits when repatriated.
The Mainichi
08-05-2025
- Business
- The Mainichi
Tokyo stocks climb on strong chip issues, hopes for tariff talks
TOKYO (Kyodo) -- Tokyo stocks climbed Thursday, boosted by gains in semiconductor-related shares and buying supported by hopes for progress in tariff talks between the United States and other countries. The 225-issue Nikkei Stock Average ended up 148.97 points, or 0.41 percent, from Wednesday at 36,928.63. The broader Topix index finished 2.56 points, or 0.09 percent, higher at 2,698.72. On the top-tier Prime Market, gainers were led by marine transportation, service, and nonferrous metal issues. The U.S. dollar rose to the lower 144 yen zone in Tokyo after the yen, seen as a safe-haven asset, was sold along with rises in stocks, dealers said. On the stock market, heavyweight chip issues attracted buying after a report that the U.S. administration is considering easing curbs on chips used for artificial intelligence technology lifted their U.S. counterparts. Investors also welcomed another report that U.S. President Donald Trump is expected to announce a trade deal with Britain on Thursday after Washington imposed hefty tariffs on many countries, brokers said. "With Japan making progress in its negotiations with the United States, hopes for a U.S. deal with another country became a factor to raise stocks," said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co. Meanwhile, rises were capped by selling to lock in gains following recent advances, while investors refrained from buying actively ahead of U.S.-China tariff talks scheduled for this weekend, brokers said.
The Mainichi
02-05-2025
- Business
- The Mainichi
Nikkei index rises for 7th day on weaker yen, hopes for tariff talks
TOKYO (Kyodo) -- The Nikkei stock index climbed for the seventh straight day to end at a new one-month high on Friday, lifted by export issues on a weaker yen and hopes for progress in ongoing tariff talks between Japan and the United States. The 225-issue Nikkei Stock Average ended up 378.39 points, or 1.04 percent, from Thursday at 36,830.69, its highest level since March 28. The broader Topix index finished 8.34 points, or 0.31 percent, higher at 2,687.78. On the top-tier Prime Market, gainers were led by precision instrument, pharmaceutical and chemical issues. The U.S. dollar briefly strengthened to the upper 145 yen range in Tokyo, as the Japanese currency was sold on speculation that the Bank of Japan will be cautious about additional interest rate hikes amid global economic uncertainty caused by hefty U.S. tariffs. On the stock market, the yen's depreciation helped the Nikkei index stay afloat, with export-oriented auto and chemical shares rising as a weaker yen increases exporters' overseas profits when repatriated. The market was also supported by anticipation of progress in Japan-U.S. tariff talks after Tokyo's chief negotiator Ryosei Akazawa expressed hope an agreement could be reached at a possible meeting of the two leaders bilaterally on the sidelines of a Group of Seven summit in June. "Although details of the negotiations are not unveiled, there seems to be a consensus of seeking progress toward the G7 summit and announcing the outcome," said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co. Hopes for progress in negotiations were also bolstered by Akazawa's remark about a plan to hold ministerial discussions in mid-May, she said.
