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The Mainichi
22-05-2025
- Business
- The Mainichi
Tokyo stocks fall as firmer yen hits exporters amid US fiscal woes
TOKYO (Kyodo) -- Tokyo stocks fell Thursday, with the Nikkei index closing at a two-week low, as export-linked shares were sold on a firmer yen amid concerns over deteriorating U.S. fiscal health. The 225-issue Nikkei Stock Average ended down 313.11 points, or 0.84 percent, from Wednesday at 36,985.87, its lowest level since May 8. The broader Topix index finished 15.79 points, or 0.58 percent, lower at 2,717.09. On the top-tier Prime Market, decliners were led by air transportation, transportation equipment, and oil and coal product issues. The U.S. dollar fell to the lower 143 yen range in Tokyo as the yen, viewed as a safe-haven asset, was bought on concern that President Donald Trump's tax cut plan could lead to rising U.S. debt, dealers said. The dollar briefly rose to the lower 144 yen range in early morning trading after the Japanese and U.S. finance chiefs reaffirmed that exchange rates should be determined by markets, but the statement had limited market impact, dealers said. The Tokyo stock market was weighed down by overnight declines in U.S. equities, bonds and the dollar, while the yen strengthened further following a meeting between Japanese Finance Minister Katsunobu Kato and U.S. Treasury Secretary Scott Bessent. The yen had been climbing against the dollar amid speculation that the United States might address its weakness ahead of Wednesday's talks between the two officials on the sidelines of a Group of Seven meeting. "The triple selloff in U.S. financial markets apparently had more impact" than the outcome of the bilateral meeting, said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory Co. Export-oriented auto stocks were sold as a stronger yen reduces automakers' overseas profits when repatriated, while heavyweight tech shares also fell due to a rise in Japanese long-term interest rates, brokers said.
The Mainichi
12-05-2025
- Business
- The Mainichi
Tokyo stocks end higher on optimism over US-China trade talks
TOKYO (Kodo) -- Tokyo stocks ended higher Monday, backed by hopes for easing trade tensions between the United States and China following their first ministerial-level talks since U.S. President Donald Trump imposed steep tariffs on imports. The 225-issue Nikkei Stock Average ended up 140.93 points, or 0.38 percent, from Friday at 37,644.26. The broader Topix index finished 8.59 points, or 0.31 percent, higher at 2,742.08. On the top-tier Prime Market, gainers were led by warehousing and harbor transportation service, mining and securities house issues. The U.S. dollar remained firm against the yen in Tokyo, rising to above 147 yen later in the afternoon, as the Japanese currency, seen as a safe-haven asset, was sold on receding fears of an intensified trade conflict between the world's two largest economies, dealers said. Tokyo stocks opened higher after China's official media reported that Beijing agreed with Washington during weekend trade talks in Geneva to establish an economic and trade mechanism. But they fell at one point into negative territory as some investors locked in gains following sharp advances on Friday, brokers said. "While details of the meeting remain unknown, the development can be taken relatively positively as there seems to be a conciliatory mood," said Makoto Sengoku, senior equity market analyst at Tokai Tokyo Intelligence Laboratory Co. Export-linked auto and machinery shares were supported by a weak yen, which increases exporters' overseas profits when repatriated.
