Latest news with #SMBCTrustBank
The Mainichi
4 days ago
- Business
- The Mainichi
Tokyo stocks end lower amid caution before upper house election
TOKYO (Kyodo) -- Tokyo stocks ended lower Friday as many investors refrained from buying amid a cautious mood ahead of this weekend's House of Councillors election. The 225-issue Nikkei Stock Average fell 82.08 points, or 0.21 percent, from Thursday at 39,819.11. The broader Topix index finished 5.33 points, or 0.19 percent, lower at 2,834.48. On the top-tier Prime Market, decliners were led by air transportation, real estate and pulp and paper issues. The U.S. dollar was slightly higher in the upper 148 yen range in Tokyo but traded without clear direction amid a lack of new trading incentives. Stocks initially tracked overnight Wall Street gains as stronger-than-expected U.S. retail sales and labor-related data helped ease concern about prospects of the world's largest economy, brokers said. The Nikkei index topped the 40,000 threshold at one point for the first time in two weeks, prompting investors to lock in gains ahead of Sunday's upper house election, with polls showing the ruling parties facing an uphill battle. "The biggest concern in the election is that Japan's political situation becomes chaotic," said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank, warning that sell-offs may occur if the ruling parties suffer a major defeat. If the election outcome leads to the resignation of Prime Minister Shigeru Ishiba, prospects of Japan-U.S. tariff negotiations become unclear as Washington plans to impose a 25 percent levy on Japanese goods from Aug. 1., Yamaguchi said.
The Mainichi
07-07-2025
- Business
- The Mainichi
Tokyo stocks end lower amid caution over U.S. tariffs
TOKYO (Kyodo) -- Tokyo stocks ended lower Monday as investors cautiously waited for developments over U.S. tariffs after President Donald Trump said letters with new unilateral rates will be sent to some countries this week. The 225-issue Nikkei Stock Average lost 223.20 points, or 0.56 percent, from Friday at 39,587.68. The broader Topix index finished 16.23 points, or 0.57 percent, lower at 2,811.72. On the top-tier Prime Market, decliners were led by bank, nonferrous metal and iron and steel issues. The U.S. dollar climbed to the lower 145 yen range in Tokyo after directionless trading in the absence of fresh trading cues, dealers said. The Nikkei stock index traded mostly lower as many investors refrained from trading actively amid uncertainty over whether Japan is among the countries the letters are to be sent to this week, with a pause on so-called reciprocal tariffs set to expire on Wednesday. "President Trump may be reluctant to reduce tariff rates" as he needs to secure revenues through levies after his tax cut bill was passed by Congress, said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank. "The market's current atmosphere appears a bit optimistic, thus facing the risk of a sharp slide," he added. The market was also dragged down by concern over the adverse impact of U.S. tariffs on the performance of Japanese companies as robotics company Yaskawa Electric tumbled after revising down on Friday its earnings outlook for the business year through February, citing demand uncertainty.
The Mainichi
23-06-2025
- Business
- The Mainichi
Tokyo stocks fall after US attacks Iran, oil prices surge
TOKYO (Kyodo) -- Tokyo stocks dropped Monday, hit by concern over heightened Middle East tensions and surging oil prices after the United States attacked Iranian nuclear facilities, though a weakening yen helped trim some losses. The 225-issue Nikkei Stock Average ended down 49.14 points, or 0.13 percent, from Friday at 38,354.09. The broader Topix index finished 10.08 points, or 0.36 percent, lower at 2,761.18. On the top-tier Prime Market, decliners were led by electric power and gas, nonferrous metal and iron and steel issues. The U.S. dollar hit a one-month high in the lower 147 yen range in Tokyo as heightened tensions in the Middle East prompted investors to seek the currency, seen as a safe haven in times of emergency, dealers said. Stocks dropped after the U.S. airstrikes on Iran over the weekend fueled fears of higher crude oil prices hurting the Japanese economy as Tehran may take retaliatory steps and close the Strait of Hormuz, a key waterway for oil transportation, brokers said. The benchmark West Texas Intermediate crude surged about 5 percent from late last week to hit the $78 level per barrel, around a five-month high, in after-hours trading in New York on Sunday. Many investors were nervous and took a wait-and-see stance as Iran has yet to clearly respond to the U.S. attack, brokers said. "If the Strait of Hormuz is closed, the Asian economy will be negatively affected by rising oil prices, possibly leading to lower Japanese stocks," said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank. Heavyweight semiconductor-related issues also drew selling following a report Friday that the U.S. administration told major chipmakers it is considering revoking waivers that allow them to send chipmaking technology to China. Losses were latter trimmed by the buying of some export-linked machinery issues on a weaker yen, which increases exporters' overseas profits when repatriated.
The Mainichi
20-06-2025
- Business
- The Mainichi
Tokyo stocks end lower amid uncertainty over Middle East conflict
TOKYO (Kyodo) -- Tokyo stocks ended slightly lower Friday, as many investors refrained from buying amid uncertainty over the intensifying Israel-Iran conflict in the Middle East. The 225-issue Nikkei Stock Average closed down 85.11 points, or 0.22 percent, from Thursday at 38,403.23. The broader Topix index finished 20.82 points, or 0.75 percent, lower at 2,771.26. On the top-tier Prime Market, decliners were led by insurance, mining and farm and fishery issues. The U.S. dollar moved little amid a lack of fresh trading cues in Tokyo after falling to the lower 145 yen range on selling following its three-week high in the upper 145 yen level overnight. The Nikkei stock index was directionless amid uncertainty over whether Israel and Iran will seek a diplomatic solution, with U.S. President Donald Trump saying he will decide within two weeks whether to strike Iran, brokers said. "Investors were finding it difficult to tilt their positions to either buy or sell as it is unclear whether the situation in the Middle East will peak or deteriorate due to actions to be taken by the United States," said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co. The ongoing Middle East conflict could have a negative influence on U.S.-Japan tariff negotiations, with Japan's chief negotiator pointing to the possibility of Washington becoming unable to devote time to holding talks with Tokyo, some brokers said. "I personally feel that the tariff negotiations may not go well" and prompt stocks to start falling, said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank.
The Mainichi
12-06-2025
- Business
- The Mainichi
Tokyo stocks snap 4-day win streak on firmer yen, tariff uncertainty
TOKYO (Kyodo) -- Tokyo stocks snapped a four-day winning streak Thursday, as exporters were hurt by a stronger yen and uncertainty over U.S. tariff negotiations. The 225-issue Nikkei Stock Average ended down 248.10 points, or 0.65 percent, from Wednesday at 38,173.09. The broader Topix index finished 5.75 points, or 0.21 percent, lower at 2,782.97. On the top-tier Prime Market, decliners were led by service, chemical and transportation equipment issues. The U.S. dollar weakened to the upper 143 yen range following a report that China is putting a six-month limit on export licenses for its rare earth exports to U.S. manufacturers, raising the prospect of further U.S.-China trade uncertainty, dealers said. Stocks gave way to profit-taking after the Nikkei gained more than 800 points over the last four trading days. The yen's strength pressured export-oriented automakers, whose overseas profits are boosted by a weaker currency. Shares in sectors with high oil demand such as airlines and steelmakers were sold on concern about rising energy costs as the key U.S. oil futures contract climbed amid growing tensions in the Middle East, analysts said. The uncertain outlook over U.S. tariff negotiations with its major trading partners also weighed on the market following the report about China's minerals exports and a remark by the Japanese prime minister that the country will not sacrifice its national interests to reach a deal quickly. "With prospects of tariff negotiations remaining unclear, investors were finding it difficult to take a risk-on approach," said Masahiro Yamaguchi, head of investment research at SMBC Trust Bank.
