Japan's Nikkei ends higher on weaker yen, profit-taking limits gains
weaker yen
, though gains were limited as investors sold stocks to book profits.
The Nikkei rose 0.33% to 39,821.28, after swinging between marginal gains and losses during the session.
The broader Topix rose 0.41% to 2,828.16.
"The Nikkei opened higher, supported by the yen's weakness against the dollar. But as soon as the Nikkei rose closer to the 40,000 level, investors sold stocks to book profits," said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory.
"Overall, the market is firm, with the Topix rising. Investors are rotating their targets day to day."
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Automakers rose on the back of the softer yen, with
Toyota Motor
and Honda Motor up 0.91% and 3.35%, respectively.
The yen weakened 0.2% to 146.96 against the dollar. The greenback extended gains as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and steps against other trade partners.
A weaker Japanese currency tends to boost shares of exporters, as it increases the value of overseas profits in yen terms when firms repatriate them to Japan.
Chip-testing equipment maker Advantest reversed losses to end 0.23% higher, while the chip-making equipment maker
Tokyo Electron
slipped 0.33%.
Uniqlo-brand owner
Fast Retailing
lost 0.76%.
Energy-related shares rose after oil prices hit a two-week high overnight. An index for oil refiners jumped 2.73% to become the top performer among the Tokyo Stock Exchange's 33 industry sub-indexes.
Yoshinoya Holdings jumped 6.46% after the fast-food chain known for "gyudon" beef bowls reported a 9% gain in quarterly net profit, supported by strong sales of its new ramen business.
Of the more than 1,600 stocks trading on the TSE's prime market, 77% rose, 19% fell and 3% traded flat.
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Economic Times
27 minutes ago
- Economic Times
India inches closer to historic US trade deal, can Modi dodge Trump's 26% tariff threat?
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'It would not be productive. The India agreement is historic,' said extended the July 9 deadline to August 1, possibly for two reasons - first, negotiations with some countries, including India, were at an advanced stage, and second, he needed to show results. A 'win' in a sea of threats would affirm that his mad strategy is with India have been substantive, with a focus on the long- term trade trajectory. Flexibility is the name of the game. If you are starting with a $45 bn trade surplus, some front-loading of benefits to the US can be digested. The main objective is to avoid the 26% tariffs Trump threatened and protect Indian being finalised would be an interim agreement, which will lead to more detailed discussions on a legal text, which, in turn, would lead to the 'first tranche' of an unprecedented deal and later to a possible second tranche. Neither side has travelled so far so quickly, or held as many meetings and video conferences negotiators are charged up. 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38 minutes ago
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Bitcoin Hits Record High As US Enters ‘Crypto Week': Why Cryptocurrency Is Soaring And Washington Is Racing To Regulate
Washington D.C.: This week could become a turning point for crypto currency in the United States. Bitcoin has crossed $120,000 for the first time. At the same time, power, money and regulation are coming together in a way that may reshape how America deals with digital currency. Starting July 14, the US House of Representatives began what insiders have dubbed 'Crypto Week', a legislative showdown that could redraw the line between government control and financial freedom in the digital age. Three major bills are on the table. Their names sound technical, but their implications are seismic. At the top is the GENIUS Act, which aims to draw clear lines between securities and commodities in the crypto world – giving startups regulatory breathing room. It has already passed the Senate. Then there is the Clarity Act, which takes a swing at federal agencies like the U.S. Securities and Exchange Commission (SEC), trying to rein in their power and hand that authority back to the Congress. 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During his 2024 campaign, he welcomed crypto donations, courted blockchain entrepreneurs and promised to make the United States 'the crypto capital of the world'. That promise seems closer to reality than ever before. And it is paying off. Since Trump's re-election in November 2024, Bitcoin has skyrocketed 75%, vaulting from $69,539 on Election Day to record highs. At this point, Bitcoin's total value would place it among the world's ten largest economies, alongside Canada and Brazil. But volatility has not vanished. In February, Bitcoin briefly dropped below $90,000 after Trump stunned markets with sweeping tariffs on U.S. allies. Still, the coin rebounded, and then some, after Trump doubled down on crypto by announcing a federal 'crypto reserve' that would include five digital currencies, including Bitcoin. Amid global economic instability – trade wars, ongoing conflicts in Ukraine and the Middle East and wild market swings – Bitcoin has emerged as both a financial escape hatch and a political weapon. More than any other U.S. president, Trump has embraced it as both. Supporters say this week marks the turning point for America's crypto industry. Critics say it is the beginning of its capture. Either way, Crypto Week is here, and the stakes have never been higher. Whether it ends in boom or bust, one thing is certain that the lines between finance, politics and technology are being redrawn live on the floor of the Congress. Washington D.C.: This week could become a turning point for crypto currency in the United States. Bitcoin has crossed $120,000 for the first time. At the same time, power, money and regulation are coming together in a way that may reshape how America deals with digital currency. 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Time of India
39 minutes ago
- Time of India
E5 Shinkansen trains to be used for trial runs for bullet train project in FY26-27, claim railway officials
This is an AI-generated image. NEW DELHI: The E5 variant of Japanese Shinkansen trains will be used for trial runs in the Gujarat section of the Ahmedabad-Mumbai bullet train project in financial year 2026-27, railway officials have said. India will subsequently buy the state-of-the-art E10 variants, which will be rolled out in India and Japan simultaneously. E10 Shinkansen trains are likely to be launched in 2030. The country's first bullet train project is progressing well, a senior railway ministry official said. 'Only Japanese Shinkansen trains will be deployed for the trial runs and then we will have the most advanced trains from Japan to run on the entire 508-km corridor,' he added. In an official release, the ministry said: 'In the spirit of strategic partnership between Japan and India, the Japanese govt has agreed to introduce E10 Shinkansen trains in the Mumbai-Ahmedabad Bullet train project. E10 will be introduced simultaneously in India and Japan. The entire 508-km corridor is being developed with Japanese Shinkansen technology. It will set new benchmarks for speed, safety, and reliability. This reflects the deep strategic and technological cooperation between India and Japan'. Meanwhile, govt has allotted the task of building two bullet trains, which can run at a maximum speed of 280 kmph, to the Integral Coach Factory (ICF) and BEML. It has also bid out the signalling work for the Bullet train corridor to a joint venture of Siemens and DR Agrawal Infracon. It remains to be seen how the railways can operate E5 trains on this signalling system even for trial purposes. The ministry said civil works for the project are progressing at a rapid pace. So far 310 km of viaducts have been constructed, 15 river bridges have been built and another four are in advanced stages of construction. Out of 12 stations, five have been completed and three more are reaching completion stage. Breakthrough has also been achieved on the first section of the 21-km undersea tunnel for the project. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
