Latest news with #SumitomoMitsuiDSAssetManagementCo
The Mainichi
4 days ago
- Business
- The Mainichi
Nikkei snaps 3-day losses as chip shares sought on firm AI demand
TOKYO (Kyodo) -- Tokyo stocks rose Wednesday with the Nikkei index snapping a three-day losing streak, as semiconductor-related shares were sought on expectations for continued growth in demand for artificial intelligence. The 225-issue Nikkei Stock Average ended up 300.64 points, or 0.80 percent, from Tuesday at 37,747.45. The broader Topix index finished 14.02 points, or 0.51 percent, higher at 2,785.13. On the top-tier Prime Market, gainers were led by pulp and paper, oil and coal product and securities house issues. In the foreign exchange market, the U.S. dollar briefly strengthened to the lower 144 yen range in Tokyo, lifted by receding concern over a U.S. economic slowdown following stronger-than-expected job openings data, dealers said. Heavyweight chip shares tracked overnight gains by their U.S. counterparts after U.S. technology giant Meta Platforms Inc. announced it signed a deal to secure electricity from a nuclear plant to meet growing power demand from AI and data centers, brokers said. "Firm AI demand is one of the factors needed for a stock market recovery, and hopes for a reviewing of U.S. export curbs on chips to China would grow if tensions between the two largest economies recede," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. "The outlook for U.S.-China relations is a significant factor for semiconductors," Ichikawa added. The yen's depreciation also helped lift some export-oriented auto and machinery issues as the weaker yen increases exporters' overseas profits when repatriated. Market sentiment was supported by hopes for progress in U.S.-China tariff negotiations with the two leaders expected to talk soon, while the doubling of U.S. tariffs on steel and aluminum imports to 50 percent, which took effect Wednesday, had little impact on the market, brokers said.
The Mainichi
07-05-2025
- Business
- The Mainichi
Tokyo stocks end mixed on hopes US-China trade tensions ease
TOKYO (Kyodo) -- Tokyo stocks ended mixed Wednesday, with buying supported by hopes trade tensions between the United States and China ease, while investors awaited the outcome of a two-day U.S. Federal Reserve policy meeting. The 225-issue Nikkei Stock Average ended down 51.03 points, or 0.14 percent, from Friday at 36,779.66, snapping a seven-day winning streak. The broader Topix index finished 8.38 points, or 0.31 percent, higher at 2,696.16. Japanese markets were closed Monday and Tuesday for national holidays. The U.S. central bank's latest policy meeting kicked off Tuesday in Washington, with its decision scheduled for release on Wednesday. On the top-tier Prime Market, gainers were led by air transportation and wholesale trade issues, while pharmaceutical and transportation equipment shares declined. The U.S. dollar briefly strengthened to the lower 143 yen range in Tokyo, as the yen, seen as a safe-haven asset, was sold after U.S. Treasury Secretary Scott Bessent said the United States and China will hold talks soon over trade tensions. In the stock market, sentiment was lifted by expectations of possible trade negotiations between the world's two largest economies following President Donald Trump's imposition of hefty import tariffs, brokers said. "During Trump's first term, stocks were pressured by the U.S.-China trade conflict but later rebounded after negotiations began and progressed," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. "I believe the market will basically respond similarly to how it did back then," he added. Drug-related shares notably weakened after Trump said Monday that he plans to announce tariffs aimed at reviving the U.S. pharmaceutical sector within the next two weeks.
The Mainichi
28-04-2025
- Business
- The Mainichi
Nikkei index rises for 4th day on hopes for Japan-US tariff talks
TOKYO (Kyodo) -- Tokyo stocks rose Monday, with the Nikkei index closing higher for a fourth consecutive day, lifted by hopes for progress in tariff talks between Japan and the United States. The 225-issue Nikkei Stock Average ended up 134.25 points, or 0.38 percent, from Friday at 35,839.99. The broader Topix index finished 22.58 points, or 0.86 percent, higher at 2,650.61. On the top-tier Prime Market, gainers were led by transportation equipment, construction and bank issues. The U.S. dollar briefly dropped to the lower 143 yen range on position adjustment, but remained mostly firm, as the yen, seen as a safe-haven asset, was sold amid expectations that the trade war between the United States and China might ease, dealers said. Stocks rose after U.S. President Donald Trump said Friday that the United States is "very close" to a deal with Japan, ahead of the top Japanese tariff negotiator's planned visit to Washington for the second round of bilateral talks this week. "There is likely to be some progress toward a reduction in tariffs" imposed on Japan, said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. "Investors now want to see what Japan has to offer to get a reduction." Rises were later trimmed by some investors locking in gains after the Nikkei benchmark exceeded 36,000 for the first time in about a month, brokers said. Many participants are sitting on the sidelines as the Golden Week holidays in Japan begin and ahead of the release of key economic data globally, including U.S. jobs data, and earnings from Japanese and U.S. companies.
The Mainichi
23-04-2025
- Business
- The Mainichi
Nikkei briefly rises over 2% on hopes US-China trade tensions ease
TOKYO (Kyodo) -- Tokyo stocks ended sharply higher Wednesday, with the Nikkei index briefly rising more than 2 percent, as buying was spurred by hopes for an easing of U.S.-China trade tensions. The 225-issue Nikkei Stock Average ended up 648.03 points, or 1.89 percent, from Tuesday at 34,868.63. The broader Topix index finished 52.20 points, or 2.06 percent, higher at 2,584.32. On the top-tier Prime Market, gainers were led by transportation equipment, rubber product, and insurance issues. The U.S. dollar briefly rose to the lower 143 yen level after falling below 140 yen the previous day for the first time since last September, as concern over the independence of the U.S. central bank subsided after President Donald Trump said he has no plans to replace Federal Reserve Chair Jerome Powell. But it later fell to the upper 141 yen range in Tokyo, as the yen was sought on speculation that the U.S. administration will urge Japan to address the yen's weakness against the dollar when U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato meet in Washington this week, dealers said. Shares were bought almost across the board following overnight gains on Wall Street after Bessent reportedly said Washington and Beijing need to find a path to de-escalation in their tariff standoff. The benchmark Nikkei index briefly soared above 35,000 for the first time in about three weeks, as export-linked auto and machinery issues advanced on a weaker yen, which would boost exporters' overseas profits when repatriated, brokers said. "Excessive caution (over the adverse impact of U.S. tariffs) is easing, and sentiment is also supported by expectations for progress in the ongoing tariff negotiations" with the United States, said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co. Among other notable gainers, investors bought heavyweight chip issues. Bank issues also drew buying on hopes for improved profits on the back of rising Japanese long-term interest rates. However, the rise was limited as some investors remained on the sidelines before the start of the earnings season and the scheduled talks on currency between the Japanese and U.S. finance chiefs in Washington, the dealers said.
