Latest news with #N225
Yomiuri Shimbun
a day ago
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Japanese Shares Rise for Third Day on Tech Optimism, JGB Support
Yomiuri Shimbun file photo The Tokyo Stock Exchange TOKYO, June 10 (Reuters) – Japanese shares climbed on Tuesday for a third consecutive day, buoyed by gains in technology stocks and investor optimism over the government's efforts to stabilize the debt markets. The Nikkei 225 Index .N225 climbed 0.9% while broader Topix .TOPX was up 0.5%. There were 171 advancers on the Nikkei index against 52 decliners. Stocks advanced alongside Japanese government bonds (JGBs), which have been moving increasingly in tandem amid rising concerns over the country's fiscal health and borrowing costs. Japanese Finance Minister Katsunobu Kato said the government will work to ensure confidence in the JGB market, a day after Reuters reported the finance ministry is considering buying back some super-long-dated bonds to contain rising yields. 'We see lower interest rates and a stable dollar-yen exchange rate as supporting the Japanese stock market today,' said Maki Sawada, an equities strategist at Nomura Securities. Chip-sector suppliers Advantest 6857.T and Shin-Etsu Chemical 4063.T jumped 4% and 2.4%, respectively, following a nearly 2% surge in the Philadelphia SE semiconductor index .SOX overnight. Shares of Mazda Motor 7261.T rose 1.4% as the yen weakened to the 145 level against the dollar, providing a boost to exporters. The top percentage gainer in the Nikkei was Sumitomo Pharma 4506.T, which jumped 5.8%, followed by motor maker Nidec 6594.T, up 4.8%. Space startup ispace 9348.T, which had a second moon lander crash into the lunar surface last week, saw its shares rebound 5.2% after they fell by their daily limit for two straight sessions.
Yomiuri Shimbun
2 days ago
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Jumps as Chip Stocks Rally Ahead of Sino-US Talks
Yomiuri Shimbun file photo The Tokyo Stock Exchange TOKYO, June 9 (Reuters) – Japan's Nikkei share average advanced 1% on Monday ahead of trade talks between the U.S. and China in London later in the day, with investors watching for any easing of restrictions over semiconductor shipments. Both countries are under pressure to relieve tensions, with China dominating global exports of rare earth minerals needed for chips and other advanced technologies, while the U.S. has curtailed exports of chip-design software to China. A phone call between U.S. President Donald Trump and Chinese counterpart Xi Jinping on Thursday led to the Monday talks, with Trump later saying rare earth supply would no longer be a problem for the United States. The Nikkei .N225 rose 1.05% to 38,137.09 as of the midday trading recess. The broader Topix .TOPX rose 0.63%. A sub-index of growth shares .TOPXG rallied 0.8%, outpacing a 0.47% rise in value shares .TOPXV. Chip-testing equipment maker and Nvidia supplier Advantest 6857.T was Nikkei's biggest gainer in index-point terms with a 5.17% climb. 'The trade talks in London are at the very least a step in the direction of easing restrictions on chip shipments between the U.S. and China,' buoying the sector on Monday, said Yunosuke Ikeda, chief macro strategist at Nomura. Artificial intelligence-focused startup investor SoftBank Group 9984.T jumped 4.03%. Chip-sector stocks Disco 6146.T and Lasertec 6920.T rose about 3% each. Otsuka Holdings 4578.T, the Nikkei's biggest percentage gainer, soared 8.65% after the drugmaker said its experimental therapy for a potentially life-threatening kidney disease more than halved severe levels of protein in the urine of patients. On the other end, iSpace 9348.T was poised to fall by the daily limit for the second straight session after its second failed attempt to put a lunar lander on the moon last week. The stock was set to slide 20%, with offers to sell outnumbering bids by 9-to-1.
Daily Maverick
6 days ago
- Business
- Daily Maverick
Asian shares creep higher, dollar languishes before ECB
By Rocky Swift TOKYO, June 5 (Reuters) – Shares in Asia crept higher and the U.S. dollar languished ahead of the European Central Bank offering its policy outlook for a tumultuous global economy. The dollar slid in the previous session after weak U.S. jobs and services data, with more weighty employment data due on Friday. Damage to the U.S. economy is becoming more apparent from President Donald Trump 's erratic tariff action, while bilateral deals remain unrealised. Canada prepared possible reprisals against the imposition of new U.S. metals tariffs while the European Union reported progress in trade talks with Washington. Against that backdrop, market watchers considered the ECB almost certain to cut policy interest rates so will pay greater attention to what bank President Christine Lagarde signals about future decisions. 'There's uncertainty about the guidance the central bank will deliver given the murky outlook for U.S. trade policy and global growth,' said Kyle Rodda, a senior financial market analyst at 'A failure to deliver sufficiently dovish guidance could upset the equity markets as well as give the euro upward trend additional momentum.' Trump's doubling of tariffs on steel and aluminium imports became effective on Wednesday, hitting Canada and Mexico in particular. The same day, his administration sought 'best offers' from trading partners to stop other import levies taking effect in July. Japan is sending key trade negotiator Ryosei Akaza to the U.S. on Thursday for another round of talks. Germany's new chancellor, Friedrich Merz, is also due to head to Washington. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.7% in early trade, whereas Japan's Nikkei stock index .N225 slid 0.2%. The dollar index =USD, which measures the greenback against a basket of currencies, was flat at 98.85 after a 0.5% slide on Wednesday. The dollar rose 0.1% against the yen to 142.92 JPY=. The euro EUR= was flat at $1.1416 after a 0.4% gain in the trading previous session. Gold pared gains from the previous day while oil slipped after a build in U.S. inventories and Saudi Arabia's cut to its July prices for Asian crude buyers. Spot gold XAU= edged 0.1% lower to $3,372.7 per ounce. U.S. crude CLc1 dipped 0.2% to $62.75 a barrel. The pan-region Euro Stoxx 50 futures STXEc1 were little changed while U.S. stock futures, the S&P 500 e-minis ESc1, were down 0.1%.
Reuters
20-05-2025
- Business
- Reuters
Asian stocks rise as traders weigh US debt, trade deals
SINGAPORE, May 20 (Reuters) - Asian stocks rose on Tuesday while U.S. Treasury yields steadied allowing a bit of a breathing room for the U.S. dollar as investors took stock of the debt load of the world's biggest economy and awaited trade deals. Moody's downgrade of its rating for U.S. sovereign credit last week - due to concerns about that nation's growing $36 trillion debt pile - led to a selloff in Treasuries on Monday but that stabilised by Asian trading hours on Tuesday. "The Moody's downgrade was a temporary shock and rather meaningless in the bigger picture," said Kyle Rodda, senior financial market analyst at "But then we're not really being fed any kind of fresh new news for investors to buy into... We haven't gotten any new deals coming through." With little indication of trade deals on the way, markets are struggling for direction, analysts said. The 30-year bond yield was 3.5 basis points lower at 4.906% after hitting an 18-month high of 5.037% in the previous trading session. Major U.S. stock indexes recovered from early loss to end mostly flat. That left the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab 0.36% higher, hovering near the seven-month high touched last week. Japan's Nikkei (.N225), opens new tab gained 0.65% in early trade. Chinese stocks were steady at the open after the local central bank cut benchmark lending rates for the first time since October, while five of China's biggest state-owned banks also lowered deposit interest rates. The blue-chip index (.CSI300), opens new tab was 0.15% higher whereas Hong Kong's Hang Seng Index (.HSI), opens new tab rose 1%. U.S. Federal Reserve officials took on cautiously the ramifications of the Moody's downgrade and unsettled market conditions as they continued to navigate an uncertain economic environment in the wake of erratic U.S. trade action. While not an imminent issue for the Fed, higher borrowing costs tied to a deteriorating U.S. financial position could make credit generally more expensive and create restraint on economic activity. Traders have priced in two interest rate cuts from the U.S. central bank this year, versus four last month when President Donald Trump's tariff salvos upended markets and led to investors exiting U.S. assets. "For now, U.S. exceptionalism and corporate resilience are offsetting the risks," said Charu Chanana, chief investment strategist at Saxo in Singapore. "But how long before investors start demanding a higher risk premium, especially with the Fed in wait-and-see mode and trade talks seemingly stalling?" Markets will be monitoring a U.S. congressional debate over a tax bill later in the day at which Trump is widely expected to be present ahead of a vote on the legislation later this week. The measure would extend Trump's 2017 tax cuts and potentially add $3 trillion to $5 trillion to national debt over the next decade. Investors will also watch out for a policy decision from the Reserve Bank of Australia, with cuts to interest rates widely expected. The Australian dollar was a tad weaker at $0.64485. In commodities, oil prices were mixed as investors contended with a potential breakdown in talks between the U.S. and Iran over the latter's nuclear activity and weakened prospects of more Iranian supply entering the market.
Reuters
22-04-2025
- Business
- Reuters
Morning Bid: Trying to contain US market contagion
April 22 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. There is an old saying that when the U.S. sneezes, the world catches a cold. But if the malady is a self-inflicted wound, is contagion inevitable? There might be a hint of that in Asian markets today given the Nikkei (.N225), opens new tab is flat even though the S&P 500 (.SPX), opens new tab shed 2.4% on Monday. Usually it would be down 1,000 points. And that's despite a stronger yen. After all, the money fleeing U.S. assets has to go somewhere, and not just to European defence stocks. Thus, according to LSEG Lipper data, investors bought a net $11 billion in European equity funds and $3.6 billion in Asian equity funds in the week to April 16, while U.S. equity funds saw an outflow of $10.6 billion. Since then, President Trump has upped the stakes by attacking Fed Chair Powell for not cutting rates as speedily as Trump would like. It's not clear if he has the power to fire the Chair, but just the appearance of threatening the independence of the central bank is another body blow for investor confidence in the full faith and trust of the United States. That saw the dollar hit another decade low on the Swissy at 0.8842, bringing losses since "tariff day" - calling them reciprocal is an insult to the English language - to more than 8%. The euro has popped above $1.1500 and the dollar is testing the 140.00 yen bulwark. Foreign investors in the U.S. who were unhedged have had a particularly painful April. Yields on 10-year Treasuries climbed to 4.41%, extending the recent jump in term risk. If Trump would consider forcing Powell out and appointing a loyalist, then the idea of, say, replacing Treasuries with zero coupon perpetual bonds might not seem so unthinkable. It's also counterproductive for Trump, since now the Fed might be less willing to cut rates for fear of being seen as bowing to political pressure. It was notable that Fed fund futures are down and remain 90% against a rate cut in May. There are at least five Fed speakers on the diary today and it'll be interesting to see how they handle this thorny political issue. Dodge, maybe. Also out today are Tesla's (TSLA.O), opens new tab results, so investors will get to see how much bad news is already in the share price. Key developments that could influence markets on Tuesday: - ECB members Knot and de Guindos speak, BoE's Breeden - Fed members speaking include Jefferson, Kugler, Barkin, Kashkari and Harker - EU consumer confidence, US Richmond Fed survey
