Latest news with #SumitomoMitsuiDSAssetManagementCo
The Mainichi
29-07-2025
- Business
- The Mainichi
Tokyo stocks drop for 3rd day amid Japan political uncertainty
TOKYO (Kyodo) -- Tokyo stocks ended lower Tuesday for a third consecutive trading day on selling amid political uncertainty in Japan and ahead of a U.S. monetary policy meeting and other key events. The 225-issue Nikkei Stock Average fell 323.72 points, or 0.79 percent, from Monday at 40,674.55. The broader Topix index finished 22.09 points, or 0.75 percent, lower at 2,908.64. On the top-tier Prime Market, decliners were led by transportation equipment, machinery and securities house issues. The U.S. dollar fluctuated in the 148 yen range in Tokyo without clear direction, amid a lack of new incentives. The stock market continued to face selling pressure by investors locking in gains after last week's surge on a Japan-U.S. trade agreement, with auto shares and heavyweight semiconductor-related issues notably falling. "Stocks fell as investors regained calmness about the trade deal that resulted in a 15 percent U.S. tariff (on Japanese imports) and political situations remaining very unclear" in Japan, said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. Prime Minister Shigeru Ishiba insists on remaining in office despite calls within his party for him to step down following the ruling coalition's major setback in the latest national election. Investors were also cautious before major economic events later this week, including policy meetings of the U.S. and Japanese central banks as well as releases of earnings results and U.S. jobs data, brokers said.
The Mainichi
23-07-2025
- Automotive
- The Mainichi
Tokyo stocks end up over 3% at 1-year highs on Japan-US tariff deal
TOKYO (Kyodo) -- Tokyo stocks' key indexes ended up over 3 percent at one-year highs on Wednesday after Japan and the United States reached a trade deal with 15 percent U.S. tariffs on autos and other products, lower than initially proposed by President Donald Trump. The market was further lifted by investors hoping for a new Japanese government as Prime Minister Shigeru Ishiba's resignation is viewed as inevitable, following the major setback for the governing coalition in Sunday's House of Councillors election. The 225-issue Nikkei Stock Average advanced 1,396.40 points, or 3.51 percent, from Tuesday to 41,171.32, its highest level since July 16, 2024. The broader Topix index finished 90.19 points, or 3.18 percent, higher at 2,926.38. All industry sectors advanced on the top-tier Prime Market, with gainers led by transportation equipment, bank and metal product issues. The U.S. dollar briefly weakened to the lower 146 yen range in Tokyo as the Japan-U.S. trade deal helped ease concerns over the prospects for the Japanese economy, boosting the yen. But the U.S. currency later strengthened to the lower 147 yen level at one point as the yen was sold on worries that Japan's financial health may deteriorate further due to fiscal expansion measures that could be adopted in the future, dealers said. Such concerns sent long-term interest rates sharply higher. The yield on the benchmark 10-year Japanese government bond hit 1.600 percent, the highest level since October 2008. Stocks rose across the board, with auto shares surging after Tokyo and Washington agreed that U.S. tariff on automobiles, imposed since April, will be cut to 15 percent from 27.5 percent for Japanese cars. "Since the Japan-U.S. tariff negotiations had been expected to be prolonged, the market reacted positively as the trade deal was announced relatively soon after the national election" on Sunday, said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co.
The Mainichi
23-07-2025
- Automotive
- The Mainichi
Tokyo stocks surge over 3% in morning after Japan-US tariff deal
TOKYO (Kyodo) -- Tokyo stocks soared more than 3 percent Wednesday morning after U.S. President Donald Trump said he had struck a "massive" trade deal with Japan, with the reciprocal tariff reduced to 15 percent from 25 percent. The 225-issue Nikkei Stock Average rose 1,278.52 points, or 3.21 percent, from Tuesday to 41,053.44, after hitting a one-year intraday high. The broader Topix index was up 88.23 points, or 3.11 percent, at 2,924.42. All industry sectors advanced on the top-tier Prime Market, with gainers led by transportation equipment, bank and pharmaceutical issues. The U.S. dollar briefly weakened to the lower 146 yen range in Tokyo as the Japan-U.S. trade deal helped ease concerns over the prospects for the Japanese economy, boosting the yen. At noon, the dollar fetched 146.93-94 yen compared with 146.62-72 yen in New York and 147.71-73 yen in Tokyo at 5 p.m. Tuesday. The euro was quoted at $1.1734-1736 and 172.41-45 yen against $1.1750-1760 and 172.31-41 yen in New York and $1.1685-1687 and 172.61-65 yen in Tokyo late Tuesday afternoon. Stocks climbed across the board, with auto shares surging after reports that the U.S. tariff on automobiles, imposed since April, will be cut to 15 percent from 27.5 percent for Japanese cars. Among automakers, Toyota Motor ended the morning up 13.7 percent at 2,837.5 yen, while Mazda Motor surged 17.7 percent to 993.9 yen. "Since the Japan-U.S. tariff negotiations had been expected to be prolonged, the market reacted positively as the trade deal was announced relatively soon after the national election" on Sunday, said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. Despite the sharp advance, Ichikawa warned of the impact of a possible change in Japan's political situation on the market, with some expecting Prime Minister Shigeru Ishiba to resign after his ruling coalition suffered a major setback in the House of Councillors election.
The Mainichi
22-07-2025
- Business
- The Mainichi
Tokyo stocks edge up as PM Ishiba vows to stay on after election
TOKYO (Kyodo) -- Tokyo stocks edged up Tuesday morning as Japanese Prime Minister Shigeru Ishiba's vow to remain in office despite the ruling coalition's major setback in a national election helped ease concern about political uncertainty. The 225-issue Nikkei Stock Average rose 73.70 points, or 0.19 percent, from Friday to 39,892.81. The broader Topix index was up 3.41 points, or 0.12 percent, at 2,837.89. Japanese financial markets were closed Monday for a national holiday. The U.S. dollar moved little around the mid-147 yen level in Tokyo, with investors adopting a wait-and-see stance as Ishiba's ability to steer the government remains unclear after the ruling coalition failed to retain its majority in the House of Councillors election, dealers said. At noon, the dollar fetched 147.46-47 yen compared with 147.30-40 yen in New York at 5 p.m. Monday. The euro was quoted at $1.1690-1692 and 172.38-42 yen against $1.1693-1703 and 172.28-38 yen in New York late Monday afternoon. Stocks advanced as investors were relieved after Sunday's upper house election outcome was largely within expectations and Ishiba said Monday he will stay on, averting a political upheaval at least for the time being, market analysts said. "Some investors had expected the coalition to lose many more seats," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. But the market remained cautious as the election result left the ruling bloc without control of both chambers of parliament. The coalition failed to secure a majority in last year's election for the more powerful House of Representatives. "The market is keeping close tabs on whether the ruling coalition will explore a grand coalition with an opposition party" and consider a reduction in the consumption tax as demanded by opposition parties, which would worsen Japan's fiscal health, Ichikawa said.
The Mainichi
14-07-2025
- Business
- The Mainichi
Tokyo stocks fall on concern over US tariffs on global economy
TOKYO (Kyodo) -- Tokyo stocks ended lower Monday on concern over the adverse impact of higher U.S. levies on the global economy, but losses were limited by hopes for progress in tariff talks between Japan and the United States. The 225-issue Nikkei Stock Average fell 110.06 points, or 0.28 percent, from Friday at 39,459.62. The broader Topix index finished 0.43 point, or 0.02 percent, lower at 2,822.81. On the top-tier Prime Market, decliners were led by information and communication, air transportation and land transportation issues. The U.S. dollar briefly weakened to the upper 146 yen zone in Tokyo as the Japanese currency, seen as a safe-haven asset, was bought as stocks declined, dealers said. It later returned to the lower 147 yen level amid the lack of fresh trading cues. The stock market was pressured by concern about the prospects for the global economy as U.S. President Donald Trump said Saturday that he plans to impose 30 percent tariffs on imports from the European Union and Mexico starting on Aug. 1. But the market found some support after Trump said Sunday that Japan and other major trading partners are changing their approach to tariff talks "very, very rapidly," indicating he believes there may soon be progress toward agreements. "Although Trump has been taking a hardline stance over his tariff policy, his latest remark likely fueled hopes that there might be some progress in Japan-U.S. negotiations," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. Meanwhile, some investors took to the sidelines ahead of the House of Councillors election on Sunday, amid caution that Japan's fiscal health might worsen if the ruling coalition loses its majority in the upper house, brokers said.
