Latest news with #Sumco
Business Recorder
a day ago
- Automotive
- Business Recorder
Nikkei climbs for fourth day on US-China trade talks
TOKYO: Japan's Nikkei share gauge climbed for a fourth straight session on Wednesday after a tentative trade truce between the US and China supported demand for higher-yielding assets. The Nikkei 225 Index gained 0.6% and logged its longest winning streak in about a month. Year-to-date, it is down 4.2%. The broader Topix gauge rose about 0.1%. Chip-sector heavyweights Sumco and Tokyo Electron surged 11% and 4.8%, respectively, on optimism that a US-China agreement will lead to the lifting of Chinese export curbs on rare earth minerals critical to high-tech sectors. Sumco was the biggest gainer on the Nikkei, followed by Socionext, which gained 6.3%. Mazda Motor climbed 1.2% as the yen weakened, boosting exporters' shares. The biggest loser on the Nikkei was Hino Motors, which slid 18% to log its steepest daily percentage decline since October 2023.
Time of India
2 days ago
- Automotive
- Time of India
Japan's Nikkei climbs for fourth day on US-China trade truce hopes
Japan's Nikkei share gauge climbed for a fourth straight session on Wednesday after a tentative trade truce between the U.S. and China supported demand for higher-yielding assets. The Nikkei 225 Index gained 0.6% and logged its longest winning streak in about a month. Year-to-date, it is down 4.2%. The broader Topix gauge rose about 0.1%. Chip-sector heavyweights Sumco and Tokyo Electron surged 11% and 4.8%, respectively, on optimism that a U.S.-China agreement will lead to the lifting of Chinese export curbs on rare earth minerals critical to high-tech sectors. Sumco was the biggest gainer on the Nikkei, followed by Socionext, which gained 6.3%. Mazda Motor climbed 1.2% as the yen weakened, boosting exporters' shares. Live Events The biggest loser on the Nikkei was Hino Motors, which slid 18% to log its steepest daily percentage decline since October 2023. The truckmaking unit of Toyota Motor said on Tuesday it would issue new shares as part of a merger agreement with Mitsubishi Fuso. U.S. President Donald Trump's on-again, off-again tariff spats have largely been factored into global equity prices, but Japanese stocks have yet to recover to highs seen around the beginning of the year, said Tatsunori Kawai, chief strategist at Mitsubishi UFJ eSmart Securities. Following next week's meetings of the Bank of Japan (BOJ) and the Federal Reserve, Japan's summer bonuses and company dividends could be key catalysts driving domestic shares higher. "With those funds in the pipeline, I think the inflow of money into the market will continue," Kawai said. "After we get through next week, I think it's basically easier to go higher and catch up with U.S. equities."
Business Recorder
2 days ago
- Automotive
- Business Recorder
Japan's Nikkei climbs for fourth day on US-China trade framework; Hino plunges
TOKYO: Japan's Nikkei share gauge climbed for a fourth straight session on Wednesday after US and Chinese officials agreed on a framework to put their trade truce back on track and remove China's curbs on rare earths, supporting demand for risk assets. Chip-sector heavyweights Sumco and Tokyo Electron surged 7% and 3.6%, respectively. Mazda Motor climbed 1.2% as the yen weakened, boosting export shares. The Nikkei 225 Index climbed 0.5% as of the midday break, set for its longest winning streak in about a month. So far, it is down 4.2% for the year. The broader Topix gauge was flat. US President Donald Trump's on-again, off-again tariff spats have largely been factored into global equity prices, but Japanese stocks have yet to recover to highs seen around the beginning of the year, said Tatsunori Kawai, chief strategist at Mitsubishi UFJ eSmart Securities. After meetings by the Bank of Japan and the Federal Reserve next week, summer salary bonuses and company dividends in Japan may be factors to push domestic shares higher. 'With those funds in the pipeline, I think the inflow of money into the market will continue,' Kawai said. Japan's Nikkei jumps as chip stocks rally ahead of Sino-US talks 'After we get through next week, I think it's basically easier to go higher and catch up with US equities.' Sumco was the biggest gainer on the Nikkei, followed by Isetan Mitsukoshi gaining 6.2%. The biggest loser was Hino Motors down 17%, after the truckmaker and unit of Toyota Motor said it would issue new shares as part of a merger agreement with Mitsubishi Fuso.
Yomiuri Shimbun
2 days ago
- Automotive
- Yomiuri Shimbun
Japan's Nikkei Stock Average Climbs for Fourth Day on US-China Trade Framework; Hino Plunges
Yomiuri Shimbun file photo The Tokyo Stock Exchange TOKYO, June 11 (Reuters) – Japan's Nikkei share gauge climbed for a fourth straight session on Wednesday after U.S. and Chinese officials agreed on a framework to put their trade truce back on track and remove China's curbs on rare earths, supporting demand for risk assets. Chip-sector heavyweights Sumco 3436.T and Tokyo Electron 8035.T surged 7% and 3.6%, respectively. Mazda Motor 7261.T climbed 1.2% as the yen weakened, boosting export shares. The Nikkei 225 Index .N225 climbed 0.5% as of the midday break, set for its longest winning streak in about a month. So far, it is down 4.2% for the year. The broader Topix gauge .TOPX was flat. U.S. President Donald Trump's on-again, off-again tariff spats have largely been factored into global equity prices, but Japanese stocks have yet to recover to highs seen around the beginning of the year, said Tatsunori Kawai, chief strategist at Mitsubishi UFJ eSmart Securities. After meetings by the Bank of Japan and the Federal Reserve next week, summer salary bonuses and company dividends in Japan may be factors to push domestic shares higher. 'With those funds in the pipeline, I think the inflow of money into the market will continue,' Kawai said. 'After we get through next week, I think it's basically easier to go higher and catch up with U.S. equities.' Sumco was the biggest gainer on the Nikkei, followed by Isetan Mitsukoshi 3099.T gaining 6.2%. The biggest loser was Hino Motors 7205.T down 17%, after the truckmaker and unit of Toyota Motor 7203.T said it would issue new shares as part of a merger agreement with Mitsubishi Fuso.
