Rising Tariffs Boost Japanese Stock Market
Frankfurt (Reuters) - The mood on Japan's stock market brightened on Friday due to optimism over trade negotiations, with hopes that the United States and Japan are making progress. The Nikkei index came close to reaching 37,000 points, surging by around 1%, while the Topix index advanced by 0.3%. This positive sentiment was fueled by China's expression of openness to talks about the trade conflict, as reported by the Ministry of Commerce. China's openness came after the US approached Beijing.
Investors were similarly encouraged by the latest round of talks between Japan's negotiator Ryosei Akazawa and US Treasury Secretary Scott Bessent. Shoichi Arisawa of IwaiCosmo Securities noted that the trade negotiations seem to be making progress, which is a positive sign. However, the Shanghai Stock Exchange was closed for a holiday, preventing it from reacting to the latest developments in the trade dispute.
Transport service provider Yamato Holdings was one of the biggest winners on the Japanese stock market, as it gained 5.3% following an optimistic forecast for operating profit.
At 08:00:
- Nikkei: 36,889.43 (+1.2%)
- Topix: 2,693.62 (+0.5%)
- Shanghai: No trading
- CSI300: No trading
- Hang Seng: 22,454.77 (+1.5%)
- Kospi: 2,559.23 (+0.1%)
Currencies Rates at 08:00- Euro/Dollar: 1.1307- Pound/Dollar: 1.3311- Dollar/Yen: 145.25- Dollar/Franken: 0.8282- Dollar/Yuan: 7.2706- Dollar/Won: 1,418.60
(Reporting by Daniela Pegna, editing by Elke Ahlswede. For further queries, please contact our newsroom under [email protected] (for politics and economics) or [email protected] (for companies and markets).)
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- Automotive Tariffs and Non-Tariff Barriers: The United States has not signaled plans to lift 25% tariffs on Japanese steel or vehicles, posing a significant concern for Japan. Japan is also reviewing barriers affecting American auto imports, but progress depends on reciprocal concessions[1].
- Agricultural Exports: Japan proposed increasing imports of U.S. corn, soybeans, and rice, while the U.S. presented a draft trade framework emphasizing agricultural access[2]. Ministerial-level talks are set to resume in mid-May, with hopes for a basic agreement by the June G7 summit.[3]
- The positive sentiment on Japan's stock market, characterized by the surge of the Nikkei and Topix indices, is due to optimism over trade negotiations with the United States.
- Investors are encouraged by the progress in trade negotiations between Japanese negotiator Ryosei Akazawa and US Treasury Secretary Scott Bessent.
- The Shanghai Stock Exchange's closure for a holiday has prevented it from reacting to the latest developments in the trade dispute.
- Transport service provider Yamato Holdings was among the biggest gainers on the Japanese stock market following an optimistic forecast for operating profit.
- The Euro/Dollar, Pound/Dollar, Dollar/Yen, Dollar/Franken, Dollar/Yuan, and Dollar/Won exchange rates are all listed in the currencies rates at 08:00.
- The U.S. has not signaled plans to lift tariffs on Japanese steel or vehicles, and the progress in agricultural exports, such as increasing imports of US corn, soybeans, and rice, depends on reciprocal concessions.
