Latest news with #NikkeiStockAverage
The Mainichi
an hour ago
- Business
- The Mainichi
Tokyo stocks drop sharply in morning as US tariff concern grows
TOKYO (Kyodo) -- Tokyo stocks dropped sharply Monday morning on selling spurred by concern about U.S. tariffs after President Donald Trump's decision to double levies on steel and aluminum. The 225-issue Nikkei Stock Average fell 551.08 points, or 1.45 percent, from Friday to 37,414.02. The broader Topix index was down 27.90 points, or 1.00 percent, at 2,773.67. The U.S. dollar briefly weakened to the lower 143 yen range in Tokyo as the Japanese currency, seen as a safe-haven asset, was bought as worries about U.S.-China trade tensions increased after Trump accused China of violating a trade deal, dealers said. At noon, the dollar fetched 143.52-53 yen compared with 143.98-144.08 yen in New York and 144.03-05 yen in Tokyo at 5 p.m. Friday. The euro was quoted at $1.1363-1366 and 163.08-14 yen against $1.1344-1354 and 163.38-48 yen in New York and $1.1338-1340 and 163.31-35 yen in Tokyo late Friday afternoon. Stocks fell as sentiment was dampened after Trump said Friday that he will raise tariffs on steel and aluminum imports to 50 percent from 25 percent imposed by his administration earlier this year. The Nikkei index lost more than 500 points as heavyweight semiconductor-related issues were sold after declines by their U.S. counterparts late last week.
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
4 days ago
- Business
- The Mainichi
Nikkei index surges to 3-month high as US tariff ruling eases fears
TOKYO (Kyodo) -- The Nikkei stock index climbed sharply Thursday to close at a three-month high and the yen fell against the U.S. dollar, as fears over an economic slowdown eased after a U.S. court blocked President Donald Trump's sweeping tariffs. The 225-issue Nikkei Stock Average ended up 710.58 points, or 1.88 percent, from Wednesday at 38,432.98, its highest level since Feb. 21. The broader Topix index finished 42.51 points, or 1.53 percent, higher at 2,812.02. On the top-tier Prime Market, gainers were led by nonferrous metal, transportation equipment and insurance issues. The U.S dollar briefly strengthened to the lower 146 yen range in Tokyo, as Wednesday's ruling by the U.S. Court of International Trade helped reduce concern that the world's largest economy would contract due to Trump's tariff policy, dealers said. Stocks surged after the U.S. court said Trump cannot impose some of his levies under emergency powers, including the so-called reciprocal tariffs. The White House has appealed the ruling, according to media reports. "While tariff negotiations were ongoing, most of the tariffs were ordered to be suspended in an unexpected way, making investors optimistic," said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank. Among notable gainers, heavyweight semiconductor-linked shares rose after U.S. chip giant Nvidia Corp. reported stronger-than-expected earnings results for the February-April period. Export-oriented auto and electronics issues were also bought as the weaker yen increases exporters' overseas profits when repatriated.
The Mainichi
4 days ago
- Business
- The Mainichi
Tokyo stocks rise in morning as US tariff ruling eases concerns
TOKYO (Kyodo) -- Tokyo stocks rose sharply Thursday morning on buying spurred by a U.S. court ruling that blocked President Donald Trump's sweeping tariffs, sparking hopes that the levies may have limited impact on the global economy. The 225-issue Nikkei Stock Average rose 633.30 points, or 1.68 percent, from Wednesday to 38,355.70. The broader Topix index was up 40.62 points, or 1.47 percent, at 2,810.13. The U.S dollar briefly strengthened to the lower 146 yen range in Tokyo, as the U.S. currency was bought as fears eased that the U.S. economy would contract due to Trump's tariff policy, dealers said. At noon, the dollar fetched 145.77-82 yen compared with 144.81-91 yen in New York and 144.14-16 yen in Tokyo at 5 p.m. Wednesday. The euro was quoted at $1.1245-1246 and 163.92-99 yen against $1.1286-1296 and 163.56-66 yen in New York and $1.1327-1328 and 163.27-31 yen in Tokyo late Wednesday afternoon. Stocks were widely bought as sentiment lifted after the U.S. Court of International Trade ruled Wednesday that Trump cannot impose tariffs under emergency powers, including the so-called reciprocal tariffs. The Nikkei index gained more than 600 points as heavyweight semiconductor shares notably climbed on the back of stronger-than-expected earnings results in the February-April period from U.S. chip giant Nvidia Corp. Export-oriented auto and electronics issues also drew buying on the yen's depreciation, which increases exporters' overseas profits when repatriated.
The Mainichi
5 days ago
- Automotive
- The Mainichi
Tokyo stocks flat as chip shares bought, gains locked in
TOKYO (Kyodo) -- Tokyo stocks ended flat Wednesday, as advances led by some semiconductor-related issues and exporters were offset by moves to lock in gains after the Nikkei briefly topped the 38,000 threshold. The 225-issue Nikkei Stock Average ended down 1.71 points from Tuesday at 37,722.40. The broader Topix index finished 0.02 point higher at 2,769.51. On the top-tier Prime Market, gainers were led by insurance, and oil and coal product issues, while service, and iron and steel shares declined. The U.S. dollar briefly strengthened to the upper 144 yen range in Tokyo as the Japanese currency was sold amid speculation that the Finance Ministry may consider reducing issuance of super long-term bonds, dealers said. Stocks were initially supported by some heavyweight chip shares after U.S. tech giant Nvidia Corp. soared on a report that it plans to launch a new cheaper artificial intelligence chip for China, brokers said. "Buying was also likely fueled by hopes for favorable earnings" when Nvidia releases its report early Thursday, Japan time, said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. The weaker yen also helped lift export-oriented auto issues as the yen's depreciation increases exporters' overseas profits when repatriated. However, the benchmark Nikkei later lost momentum as investors sold to lock in gains, while a rise in Japanese long-term interest rates also weighed on the market.
