Latest news with #Nikkei-225
Korea Herald
28-04-2025
- Business
- Korea Herald
Where Japanese women stand 40 years after Equal Employment Opportunity Law
TOKYO (Japan News/ANN) — It has been 40 years since the Equal Employment Opportunity Law was enacted. Since the enactment of the law, which was the fist step to eliminate gender discrimination in job opportunities, efforts have been made to promote the development of an environment in which women can work comfortably. The way women are perceived — from powerful to sweet — has been reflected in economic and social developments up to the present day. Career-track positions The law was enacted in 1985. That same year, the then Group of Five advanced nations signed the Plaza Accord, which was aimed at taking coordinated action to address the appreciation of the US dollar. The yen rapidly appreciated after that, and monetary easing and measures to expand domestic demand served as a catalyst for an unprecedented economic boom. What followed for the Japanese economy was an economic bubble, with the benchmark Nikkei-225 stock average climbing to a then record 38,915 yen ($282) by the end of 1989. Companies hired many new graduates and crawled over each other to lock in new recruits as quickly as they could. Women, who had previously been given supportive positions in the workplace, began to be offered promising career opportunities under the new law, putting them on track to secure even managerial posts. However, at the time it was enacted, the law required nothing more than for companies to make an effort to treat women equally as men in terms of employment, placement and promotion. Wearing power suits with large shoulder pads was popular at the time among career women who wanted to demonstrate their abilities and show their desire to have a meaningful career. "Gyaru" makeup In the early 1990s, the bubble economy collapsed, and Japan entered a long period of stagnation, later dubbed the "three lost decades." Affordable cosmetics became popular, and "gyaru" — a fashion subculture named after the Japanese pronunciation of the English word "gal" — enjoyed a boom even among working-age women. Even during the recession, an environment in which women could work comfortably steadily advanced. In 1989, a former female employee of a publishing company who claimed that she had suffered verbal sexual harassment filed a lawsuit against her boss and company, seeking damages for emotional distress and other harm. The court ruled that her male boss and the company were responsible for the harassment in what became known as the nation's first "sexual harassment lawsuit." That ruling came in 1992, when harassment was far from a widespread concept. In 1999, the law was revised to obligate employers to consider measures to prevent sexual harassment. The law also obliged employers not to discriminate against women in terms of hiring, placement and promotion. For a long time, a majority of households were made up of a husband who worked and a wife who was a full-time homemaker. However, in 1992, those households were eclipsed by two-income households for the first time. Since 1997, two-income households have been in the majority, and the gap between the two continues to expand. Focus on charms The economic doldrums continued. In 2003, the Nikkei stock average fell below 8,000 yen ($69.57) for the first time in 20 years. With the structural reform policies of then Prime Minister Junichiro Koizumi, it became easier for companies to employ temporary workers, leading to a sharp increase in the number of both men and women in non-regular employment. Working part-time used to be just one of the work options available to women, but after the structural reform policies, more and more women were unable to find full-time employment and had no choice but to work with unstable employment. In 2006, the word of the year was "Kakusa shakai" (unequal society), picked from among the new and popular expressions that year. In 2008, Japanese companies were affected by the "Lehman Shock," a global credit crunch triggered by the collapse of US investment bank Lehman Brothers, and social issues emerged such as unilateral termination of temporary employment contracts. Under the prolonged recession, there was a boom in "konkatsu" (marriage hunting), advocated by Prof. Masahiro Yamada of Chuo University and journalist Toko Shirakawa. Hair and makeup styles that emphasized the charm and attractiveness of women became popular. 3 arrows, red lipstick The economy began to recover after the launch of Abenomics, an economic policy promoted by former Prime Minister Shinzo Abe after his return to power in 2012. The economic policies of Abenomics were based on three "arrows" — aggressive monetary policy, flexible fiscal policy and structural reform of the economy — and aimed to navigate a way out of a deflationary period. In 2013, the government put an active role for women in society at the center of its growth strategy. In 2016, it passed the Law on Promotion of Women's Active Engagement in Professional Life, which obliges major companies to set numerical targets for women in managerial posts and to compile and publicize action plans for fostering the active participation and advancement of women. Investors and consumers paid attention to whether women were being fairly evaluated at the workplace and allowed to demonstrate their abilities there. Reflecting economic recovery and the support that society was providing to women, red lips and other heavy makeup reminiscent of the bubble period became popular. In 1985, the wage for women was 59.6 compared to 100 for men, but that figure rose to beyond 70 in the 2010s, according to a survey by the Health, Labor and Welfare Ministry. Narrowing the gap, however, has not been easy. COVID-19, individuality In 2018, the Law on Promotion of Gender Equality in the Political Field was enacted in order to facilitate women's participation in politics. The COVID-19 pandemic, which started in 2020, caused a contraction in economic activity, leading many people in non-regular employment, regardless of their gender, to find themselves in a difficult situation. The economy gradually recovered, and in 2024 the benchmark Nikkei stock Average topped the 40,000 yen ($264.40) mark for the first time. Although it fell sharply afterward, it has since remained relatively firm. After a long period of pandemic-induced mask wearing, women have come to place more importance on their individuality. "Personal color analysis," for instance, a method that helps people determine which colors best suit their skin tone, and other novel ideas are gaining recognition. The way people do their job has changed, with more employees working from home and other places besides corporate offices. Japan is heading to a future where both men and women can lead their lives as they please. From high heels to sneakers There have been significant changes around women's feet in the past 40 years. During the bubble economy years, career women chose high heels. "Pumps with 7.5-centimeter heels were overwhelmingly popular," said Miyako Sekimoto, a fashion director of Matsuya Ginza department store, looking back on those years. When the economy cooled in the 1990s, women's heels lowered to about 5.5 centimeters. The preferred color was black, and pumps with a simple shape and pointy toes were popular. Following the Great East Japan Earthquake in 2011, shoes with low heels and flat shoes became part of women's preferences, as many women became aware that they might have to evacuate or go home on foot in emergencies. In 2019, the so-called "#KuToo" movement occurred, in which women demanded that companies and society not force them to wear pumps. The movement derived from the "Me Too" movement and was a pun on the Japanese words "kutsu" (shoe) and "kutsuu" (pain). Today, casual loafers and sneakers are widespread as well.
The Star
25-04-2025
- Business
- The Star
Stocks rise on trade talks, Fed rate-cut hopes
NEW YORK: Global stocks advanced for a fourth consecutive day - on track for the best winning streak in more than two months - on signs of progress in trade negotiations and after Federal Reserve officials indicated they would be open to cutting rates earlier than anticipated. Shares in South Korea rose 0.8 per cent as Treasury Secretary Scott Bessent said the US may reach an "agreement of understanding' on trade as soon as next week. The Nikkei-225 rose as much as 1.8 per cent as the yen declined on positive comments from the US-Japan trade talks. A gauge of the dollar edged up while Treasuries held gains from Thursday (April 24). Google parent Alphabet Inc. rose 4.8 per cent on strong earnings, sending futures contracts for the S&P 500 and the Nasdaq 100 up 0.3 per cent. Technology shares advanced, led by gains in Taiwan Semiconductor Manufacturing Co. Appetite for risk is returning as the White House strikes a conciliatory tone, boosting investor optimism the US will clinch crucial trade deals with top economic partners. In a sign that markets may be stabilising after the jolt from Donald Trump's century-high levies, a gauge of Asian stocks on Friday erased all its losses since April 2 - the day the US president announced his reciprocal tariffs. "Investors are feeling a little more chipper in Asia, taking their cue from the recovery in US markets,' said Frederic Neumann, chief Asia economist at HSBC Holdings Plc in Hong Kong. "At the end of the week, there are hopes that trade tensions may begin to thaw at the edges, with prospects for deals improving.' Trump said his administration was talking with China on trade, while Beijing denied the existence of negotiations and demanded the US revoke all unilateral tariffs. Dozens of nations have appealed to Washington for relief from higher tariffs that have been suspended for 90 days to provide time for talks. "They had a meeting this morning,' Trump said Thursday about China. "It doesn't matter who 'they' is. We may reveal it later, but they had meetings this morning, and we've been meeting with China.' The US-South Korea discussions were "very successful,' according to Bessent. That follows the US making "significant progress' toward a bilateral trade deal with India. Japanese Finance Minister Katsunobu Kato said specific currency levels or targets didn't come up in his talks Thursday with Bessent, and the two sides agreed that foreign-exchange rates should be determined by the market. The yen fell to trade near 143 against the dollar. "We are into the first or second act of a theatre of negotiation between the United States and their various trading partners,' said John Woods, Asia chief investment officer at Lombard Odier Hong Kong Ltd. "And my sense is once we get to close to that third act, maybe in the next couple of quarters or so, clarity towards the likely implications of the tariff story will become a lot clearer.' Still, uncertainty over the Trump administration's trade policy is making it difficult for the corporate world to forecast how the year will play out. Several analysts are souring on the profit outlook due to the risk of an economic slowdown, with the US benchmark's earnings revisions breadth - or estimated upgrades versus downgrades - approaching downside extremes. American Airlines Group Inc. withdrew its full-year earnings outlook, joining a growing number of companies hedging their bets on the broader economy. Southwest Airlines Co.'s chief said his industry is already in a recession. PepsiCo Inc. and Procter & Gamble Co. lowered their forecasts. Also lifting the mood of the market Friday was comments from two Fed officials about cutting interest rates. Fed Governor Christopher Waller said he'd support rate cuts in the event aggressive tariff levels hurt the jobs market, speaking in an interview on Bloomberg Television. Cleveland Fed President Beth Hammack told CNBC the central bank could move on rates as early as June if it has clear evidence of the economy's direction. One key thing to watch is the yield on the ten-year US Treasury, said Kelvin Tay, a regional CIO at UBS Global Wealth Management. It's key for the Trump administration to keep the yields to 4.5 per cent and below as anything above that level is when markets will react negatively, he said. The yield on the ten-year bond was little changed at 4.31 per cent on Friday. "The combination of the dollar weakening, treasury yields going up and equity markets coming off will likely force the hand of the US administration,' he said. - Bloomberg
Yomiuri Shimbun
23-04-2025
- Business
- Yomiuri Shimbun
Where Japanese Women Stand 40 Years After Equal Employment Opportunity Law; Narrowing Gap Has Not Been Easy
The Yomiuri Shimbun It has been 40 years since the Equal Employment Opportunity Law was enacted. Since the enactment of the law, which was the fist step to eliminate gender discrimination in job opportunities, efforts have been made to promote the development of an environment in which women can work comfortably. The way women are perceived — from powerful to sweet — has been reflected in economic and social developments up to the present day. Career-track positions The law was enacted in 1985. That same year, the then Group of Five advanced nations signed the Plaza Accord, which was aimed at taking coordinated action to address the appreciation of the U.S. dollar. The yen rapidly appreciated after that, and monetary easing and measures to expand domestic demand served as a catalyst for an unprecedented economic boom. What followed for the Japanese economy was an economic bubble, with the benchmark Nikkei-225 stock average climbing to a then record ¥38,915 by the end of 1989. Companies hired many new graduates and crawled over each other to lock in new recruits as quickly as they could. Women, who had previously been given supportive positions in the workplace, began to be offered promising career opportunities under the new law, putting them on track to secure even managerial posts. However, at the time it was enacted, the law required nothing more than for companies to make an effort to treat women equally as men in terms of employment, placement and promotion. Wearing power suits with large shoulder pads was popular at the time among career women who wanted to demonstrate their abilities and show their desire to have a meaningful career. 'Gyaru' makeup In the early 1990s, the bubble economy collapsed, and Japan entered a long period of stagnation, later dubbed the 'three lost decades.' Affordable cosmetics became popular, and 'gyaru' — a fashion subculture named after the Japanese pronunciation of the English word 'gal' — enjoyed a boom even among working-age women. Even during the recession, an environment in which women could work comfortably steadily advanced. The Yomiuri Shimbun In 1989, a former female employee of a publishing company who claimed that she had suffered verbal sexual harassment filed a lawsuit against her boss and company, seeking damages for emotional distress and other harm. The court ruled that her male boss and the company were responsible for the harassment in what became known as the nation's first 'sexual harassment lawsuit.' That ruling came in 1992, when harassment was far from a widespread concept. In 1999, the law was revised to obligate employers to consider measures to prevent sexual harassment. The law also obliged employers not to discriminate against women in terms of hiring, placement and promotion. For a long time, a majority of households were made up of a husband who worked and a wife who was a full-time homemaker. However, in 1992, those households were eclipsed by two-income households for the first time. Since 1997, two-income households have been in the majority, and the gap between the two continues to expand. Focus on charms The economic doldrums continued. In 2003, the Nikkei stock average fell below ¥8,000 for the first time in 20 years. With the structural reform policies of then Prime Minister Junichiro Koizumi, it became easier for companies to employ temporary workers, leading to a sharp increase in the number of both men and women in non-regular employment. Working part-time used to be just one of the work options available to women, but after the structural reform policies, more and more women were unable to find full-time employment and had no choice but to work with unstable employment. In 2006, the word of the year was 'Kakusa shakai' (unequal society), picked from among the new and popular expressions that year. In 2008, Japanese companies were affected by the 'Lehman Shock,' a global credit crunch triggered by the collapse of U.S. investment bank Lehman Brothers, and social issues emerged such as unilateral termination of temporary employment contracts. Under the prolonged recession, there was a boom in 'konkatsu' (marriage hunting), advocated by Prof. Masahiro Yamada of Chuo University and journalist Toko Shirakawa. Hair and makeup styles that emphasized the charm and attractiveness of women became popular. 3 arrows, red lipstick The economy began to recover after the launch of Abenomics, an economic policy promoted by former Prime Minister Shinzo Abe after his return to power in 2012. The economic policies of Abenomics were based on three 'arrows' — aggressive monetary policy, flexible fiscal policy and structural reform of the economy — and aimed to navigate a way out of a deflationary period. In 2013, the government put an active role for women in society at the center of its growth strategy. In 2016, it passed the Law on Promotion of Women's Active Engagement in Professional Life, which obliges major companies to set numerical targets for women in managerial posts and to compile and publicize action plans for fostering the active participation and advancement of women. The Yomiuri Shimbun Investors and consumers paid attention to whether women were being fairly evaluated at the workplace and allowed to demonstrate their abilities there. Reflecting economic recovery and the support that society was providing to women, red lips and other heavy makeup reminiscent of the bubble period became popular. In 1985, the wage for women was 59.6 compared to 100 for men, but that figure rose to beyond 70 in the 2010s, according to a survey by the Health, Labor and Welfare Ministry. Narrowing the gap, however, has not been easy. COVID-19, individuality In 2018, the Law on Promotion of Gender Equality in the Political Field was enacted in order to facilitate women's participation in politics. The COVID-19 pandemic, which started in 2020, caused a contraction in economic activity, leading many people in non-regular employment, regardless of their gender, to find themselves in a difficult situation. The economy gradually recovered, and in 2024 the benchmark Nikkei stock Average topped the ¥40,000 mark for the first time. Although it fell sharply afterward, it has since remained relatively firm. After a long period of pandemic-induced mask wearing, women have come to place more importance on their individuality. 'Personal color analysis,' for instance, a method that helps people determine which colors best suit their skin tone, and other novel ideas are gaining recognition. The way people do their job has changed, with more employees working from home and other places besides corporate offices. Japan is heading to a future where both men and women can lead their lives as they please. *** From high heels to sneakers There have been significant changes around women's feet in the past 40 years. During the bubble economy years, career women chose high heels. 'Pumps with 7.5-centimeter heels were overwhelmingly popular,' said Miyako Sekimoto, a fashion director of Matsuya Ginza department store, looking back on those years. When the economy cooled in the 1990s, women's heels lowered to about 5.5 centimeters. The preferred color was black, and pumps with a simple shape and pointy toes were popular. Following the Great East Japan Earthquake in 2011, shoes with low heels and flat shoes became part of women's preferences, as many women became aware that they might have to evacuate or go home on foot in emergencies. In 2019, the so-called '#KuToo' movement occurred, in which women demanded that companies and society not force them to wear pumps. The movement derived from the 'Me Too' movement and was a pun on the Japanese words 'kutsu' (shoe) and 'kutsuu' (pain). Today, casual loafers and sneakers are widespread as well. 'Women have become able to wear shoes that suit them,' Sekimoto said. — By Kie Noguchi and Mako Nagaiwa
Yahoo
18-04-2025
- Business
- Yahoo
Asian Stocks Edge Higher in Thin Holiday Trading: Markets Wrap
(Bloomberg) -- Asian stocks notched up small gains as investors largely adopted a wait-and-watch approach on tariff negotiations before taking long-term bets. Trump Signs Executive Orders on Federal Purchasing, Office Space DOGE Places Entire Staff of Federal Homelessness Agency on Leave Trump Administration Takes Over New York Penn Station Revamp How Did This Suburb Figure Out Mass Transit? Why the Best Bike Lanes Always Get Blamed The Nikkei-225 gauge in Japan advanced 1%. Shares in mainland China were little changed, paring earlier losses that were caused by a US plan to impose levies on Chinese vessels docking at its ports. The New Zealand dollar extended a decline from a five-month high. Most of the other markets in the region were shut for the Good Friday holiday. Traders are focused more on developments in country-specific discussions, seeking clues on how the tariffs will pan out. After the 'big progress' in the Japan-US talks, President Donald Trump said he's 'very confident' of a deal with the European Union. Questions surround the status of China talks after Beijing indicated it has several conditions for agreeing to talks with the administration. 'Trump was not negative on trade negotiations with the EU,' said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. 'The Japan-US negotiations that ended yesterday were also a good first round with no disturbance as currency exchange was not on the agenda.' The yen was little changed Friday after weakening in the prior session as Japan's top negotiator said currencies weren't discussed in the bilateral meeting. That allayed concerns a stronger exchange rate would be part of the US demands. While Trump didn't offer details of any agreement with the EU, he was decisive on a critical US-Ukraine minerals accord, saying a deal would be signed next week. The president also said he was reluctant to continue ratcheting up tariffs on China because it could stall trade between the two countries, and insisted Beijing had repeatedly reached out in a bid to broker a deal. Still, the administration took steps to impose levies on Chinese vessels docking at US ports, threatening to shake up global shipping routes and escalate the trade war between the world's two biggest economies. Shipping stocks in Japan and South Korea such as Kawasaki Kisen Kaisha Ltd. and HMM Co. rose on the news. Trump's tariff deluge has prompted some Chinese clients to reduce their Treasuries holdings in favor of European debt, according to Deutsche Bank AG. European high-quality bonds, Japanese government bonds and gold are likely to be the potential choices for investors as alternatives to Treasuries, said Lillian Tao, head of the bank's macro and global emerging market sales. Meanwhile, China's sovereign wealth fund appears to have stepped in to shore up stocks this week as escalating trade tensions rattle investors. Exchange-traded funds known to be favored by China's so-called national team saw a surge in turnover in the final 20 minutes of the session in the past three days. Contemporary Amperex Technology Co.'s shares fell Friday after a US congressional committee called on two American banks to withdraw from working on the Chinese battery maker's planned initial public offering in Hong Kong. Elsewhere in Japan, consumer inflation advanced apace last month, supporting the central bank's stance on a gradual rate-hike path. The price of rice, the nation's staple food, rose 92.1% from a year earlier, the fastest pace in data going back to 1971. US equities posted a weekly loss amid disappointment over Federal Reserve Chair Jerome Powell's push back on the idea of the central bank supporting markets. Trump criticized Powell on social media, saying the Fed Chair's termination from his post can't come quickly enough, arguing that the central bank should have cut interest rates already this year. Trump later told reporters he could force Powell out if he wanted to. Some of the main moves in markets: Stocks Japan's Topix rose 1.1% The Shanghai Composite was little changed Currencies The euro was little changed at $1.1375 The Japanese yen was little changed at 142.34 per dollar Cryptocurrencies Bitcoin fell 0.6% to $84,654.17 Ether fell 0.1% to $1,582.4 This story was produced with the assistance of Bloomberg Automation. --With assistance from Toby Alder, Toshiro Hasegawa and April Ma. How Mar-a-Lago Memberships Explain Trump's Tariff Obsession Trade Tensions With China Clear Path for Salt-Powered Batteries It's Legal to Pay US Workers With Disabilities as Little as 25¢ an Hour Trump Is Firing the Wrong People, on Purpose GM's Mary Barra Has to Make a $35 Billion EV Bet Work in Trump's America ©2025 Bloomberg L.P. Sign in to access your portfolio
Washington Post
04-04-2025
- Business
- Washington Post
Asian markets extend losses amid Trump tariff uncertainty
TAIPEI, Taiwan — Stock markets in Asia fell sharply when they opened on Friday, continuing the steep declines recorded in the United States, amid fears of a full-blown global trade war and an economic recession sparked by President Donald Trump's tariff blitz. China, one of the hardest hit by this week's tariffs, has vowed to take 'firm countermeasures' to retaliate, although Beijing has not yet provided any detail. Analysts say the escalation diminishes to chances of negotiations between the leaders of the world's two largest economies, but other regional leaders seized on Trump's suggestion he might be open to cutting deals, despite his previous insistence that he was not interested in discussing exemptions to his tariffs. Amid the ongoing uncertainty, shares in Australia, Japan and South Korea opened lower on Friday. Japan's Nikkei-225 fell by more than 2 percent and the Topix by almost 3 percent when trading opened in Tokyo, with automakers including Toyota and Honda particularly badly hit, each down more than 5 percent Friday morning, after Trump introduced a 25 percent tariff on all foreign-made cars and car parts. Australia's ASX-200 declined almost 2 percent in early trading Friday and South Korea's KOSPI lost 1.15 percent, although it quickly recovered. Trading in China and Hong Kong was closed on Friday for the Tomb Sweeping Day holiday. In the U.S. on Thursday, stocks closed down sharply, with the tech-heavy Nasdaq falling close to 6 percent for the day and the S&P 500 notching its biggest one-day drop since summer of 2020, closing down 4.8 percent. The Dow Jones Industrial Average fell almost 4 percent. On a day he branded 'Liberation Day,' Trump on Wednesday announced a 10 percent tariff that would apply to imports from every country, and a separate set of what he called 'reciprocal' tariffs that impose a higher country-specific rate. These included a new tariff of 34 percent on Chinese goods, on top of the 20 percent levy already imposed as Trump accused Beijing of not doing enough to stop the flow of fentanyl and its precursors into the U.S. It is also in addition to existing tariffs on goods including some appliances, machinery and clothing that were already as high as 45 percent. 'Trade wars and tariff wars have no winners, and protectionism will lead nowhere,' Chinese Foreign Ministry spokesman Guo Jiakun said Thursday. 'The U.S. needs to correct its wrongdoings and resolve trade disputes with countries, including China, through consultation with equality, respect and mutual benefit.' Trump also closed the 'de minimis' loophole that allowed items being shipped or brought into the United States that are worth less than $800 to circumvent import taxes, a move that will hit customers of Chinese e-commerce sites like Shein and Temu particularly hard. Trump also slapped duties of 24 and 26 percent on Japan and South Korea, respectively — both are key U.S. security allies and major trading partners — and 32 percent on Taiwan, although he exempted its advanced semiconductors from the levies. Trump also targeted many of the countries that had benefited from companies' efforts to diversify supply chains away from China: Cambodia was stung with a 49 percent tariff, Vietnam with 46 percent, and Thailand, 36 percent. While China vowed to retaliate, other major economies in Asia — including security allies Japan and South Korea — held out hope that they would be able to win exemptions through negotiations, even though Trump had repeatedly ruled out any appetite for cutting deals. Taiwanese President Lai Ching-te said in a statement late Thursday that he was looking forward to 'working closely with the U.S. to ensure a fair, mutually beneficial approach that strengthens our shared prosperity.' But after U.S. markets closed down sharply Thursday, Trump told reporters on Air Force One that he would be open to striking deals with individual countries. 'Every country is calling us. That's the beauty of what we do,' Trump said. 'We put ourselves in the driver's seat. If we would have asked these countries to do us a favor, they would have said no. Now they will do anything for us.' Trump added: 'The tariffs give us great power to negotiate. They always have.'
