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Economic Times
5 days ago
- Business
- Economic Times
Japan's Nikkei rises on weaker yen as Trump tariff deadline delayed
Japan's Nikkei share average rose on Tuesday, buoyed by a weakening yen and as U.S. President Donald Trump gave an additional three-week grace period for tariff negotiations. ADVERTISEMENT The Nikkei gained 0.26% to end at 39,688.81. The broader Topix added 0.17%. On Monday, Trump began telling selected trade partners that they will see higher tariff rates from August 1, with the original three-month moratorium on "Liberation Day" reciprocal levies expiring on Wednesday. Japan will now see a rate of 25%. Prime Minister Shigeru Ishiba said his administration would continue negotiations with the White House to seek a mutually beneficial bilateral deal. Initially touted by Trump's team as a likely early success, talks with Tokyo remain stalled for weeks, largely over a 25% tariff on Japanese auto imports. "It's very clear that it will be very difficult" to overcome the obstacles to an agreement on autos, said the chief macro strategist at Sumitomo Mitsui DS Asset Management, Masayuki Kichikawa, who sees the 25% duty on the sector sticking. Japan's best outcome would be a lowering of the universal 25% rate to the baseline 10% the U.S. is levying on all trading partners, he said. ADVERTISEMENT According to Kichikawa, "there is no choice other than to wait and see" for now as the July 20 Japanese upper house elections leave Ishiba's team little room to show flexibility in trade negotiations until after the result. Japanese stocks rose on the day even after the tariff announcements, which also included South Korea along with a host of smaller nations, sent Wall Street sliding from record highs. ADVERTISEMENT Japan's heavyweight exporters were supported by a sharply weaker yen, with Trump's new tariff rates spurring a broad rally in the U.S. currency overnight. A weaker yen inflates the value of overseas revenues. The chip sector was a standout, with Advantest gaining 2.5% and Furukawa Electric jumping 6.5%. ADVERTISEMENT Most automakers advanced, with Honda rising 0.8% and Toyota up 0.5%. However, shares of embattled Nissan slumped for a third day, shedding an additional 6.4% to be the Nikkei's biggest decliner in percentage terms. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
5 days ago
- Business
- Time of India
Japan's Nikkei rises on weaker yen as Trump tariff deadline delayed
Japan's Nikkei share average rose on Tuesday, buoyed by a weakening yen and as U.S. President Donald Trump gave an additional three-week grace period for tariff negotiations. The Nikkei gained 0.26% to end at 39,688.81. The broader Topix added 0.17%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brain tumor has left my son feeling miserable; please help! Donate For Health Donate Now Undo On Monday, Trump began telling selected trade partners that they will see higher tariff rates from August 1, with the original three-month moratorium on "Liberation Day" reciprocal levies expiring on Wednesday. Japan will now see a rate of 25%. Prime Minister Shigeru Ishiba said his administration would continue negotiations with the White House to seek a mutually beneficial bilateral deal. Initially touted by Trump's team as a likely early success, talks with Tokyo remain stalled for weeks, largely over a 25% tariff on Japanese auto imports. "It's very clear that it will be very difficult" to overcome the obstacles to an agreement on autos, said the chief macro strategist at Sumitomo Mitsui DS Asset Management, Masayuki Kichikawa, who sees the 25% duty on the sector sticking. Live Events Japan's best outcome would be a lowering of the universal 25% rate to the baseline 10% the U.S. is levying on all trading partners, he said. According to Kichikawa, "there is no choice other than to wait and see" for now as the July 20 Japanese upper house elections leave Ishiba's team little room to show flexibility in trade negotiations until after the result. Japanese stocks rose on the day even after the tariff announcements, which also included South Korea along with a host of smaller nations, sent Wall Street sliding from record highs. Japan's heavyweight exporters were supported by a sharply weaker yen, with Trump's new tariff rates spurring a broad rally in the U.S. currency overnight. A weaker yen inflates the value of overseas revenues. The chip sector was a standout, with Advantest gaining 2.5% and Furukawa Electric jumping 6.5%. Most automakers advanced, with Honda rising 0.8% and Toyota up 0.5%. However, shares of embattled Nissan slumped for a third day, shedding an additional 6.4% to be the Nikkei's biggest decliner in percentage terms.
Business Recorder
5 days ago
- Business
- Business Recorder
Japan's Nikkei buoyed by weak yen as Trump tariff deadline delayed
TOKYO: Japan's Nikkei share average rose on Tuesday, buoyed by a weakening yen and as US President Donald Trump gave an additional three-week grace period for tariff negotiations. The Nikkei gained 0.2% to 39,679.13 as of 0220 GMT. The broader Topix added 0.1%. On Monday, Trump began telling selected trade partners that they will see higher tariff rates from August 1, with the original three-month moratorium on 'Liberation Day' reciprocal levies expiring on Wednesday. Japan will now see a rate of 25%. Prime Minister Shigeru Ishiba said his administration would continue negotiations with the White House to seek a mutually beneficial bilateral deal. Initially touted by Trump's team as a likely early success, talks with Tokyo remain stalled for weeks, largely over a 25% tariff on Japanese auto imports. 'It's very clear that it be will very difficult' to overcome the obstacles to an agreement on autos, said the chief macro strategist at Sumitomo Mitsui DS Asset Management, Masayuki Kichikawa, who sees the 25% duty on the sector sticking. Japan's best outcome would be a lowering of the universal 25% rate to the baseline 10% the US is levying on all trading partners, he said. According to Kichikawa, 'there is no choice other than to wait and see' for now as the July 20 Japanese upper house elections leave Ishiba's team little room to show flexibility in trade negotiations until after the result. Japanese stocks rose on the day even after the tariff announcements, which also included South Korea along with a host of smaller nations, sent Wall Street sliding from record highs. Japan's heavyweight exporters were supported by a sharply weaker yen, with Trump's new tariff rates spurring a broad rally in the US currency overnight. A weaker yen inflates the value of overseas revenues. The chip sector was a standout, with Advantest gaining 2.2% and Furukawa Electric jumping 7.7%. Automakers advanced, with Mazda climbing 2.5% and Toyota up 0.5%. However, shares of embattled Nissan slumped for a third day, shedding an additional 2.9%.
New Straits Times
5 days ago
- Business
- New Straits Times
Japan's Nikkei buoyed by weak yen as Trump tariff deadline delayed
TOKYO: Japan's Nikkei share average rose on Tuesday, buoyed by a weakening yen and as US President Donald Trump gave an additional three-week grace period for tariff negotiations. The Nikkei gained 0.2 per cent to 39,679.13 as of 0220 GMT. The broader Topix added 0.1 per cent. On Monday, Trump began telling selected trade partners that they will see higher tariff rates from August 1, with the original three-month moratorium on "Liberation Day" reciprocal levies expiring on Wednesday. Japan will now see a rate of 25 per cent. Prime Minister Shigeru Ishiba said his administration would continue negotiations with the White House to seek a mutually beneficial bilateral deal. Initially touted by Trump's team as a likely early success, talks with Tokyo remain stalled for weeks, largely over a 25 per cent tariff on Japanese auto imports. "It's very clear that it be will very difficult" to overcome the obstacles to an agreement on autos, said the chief macro strategist at Sumitomo Mitsui DS Asset Management, Masayuki Kichikawa, who sees the 25 per cent duty on the sector sticking. Japan's best outcome would be a lowering of the universal 25 per cent rate to the baseline 10 per cent the US is levying on all trading partners, he said. According to Kichikawa, "there is no choice other than to wait and see" for now as the July 20 Japanese upper house elections leave Ishiba's team little room to show flexibility in trade negotiations until after the result. Japanese stocks rose on the day even after the tariff announcements, which also included South Korea along with a host of smaller nations, sent Wall Street sliding from record highs. Japan's heavyweight exporters were supported by a sharply weaker yen, with Trump's new tariff rates spurring a broad rally in the US currency overnight. A weaker yen inflates the value of overseas revenues. The chip sector was a standout, with Advantest gaining 2.2 per cent and Furukawa Electric jumping 7.7 per cent. Automakers advanced, with Mazda climbing 2.5 per cent and Toyota up 0.5 per cent. However, shares of embattled Nissan slumped for a third day, shedding an additional 2.9 per cent.
Yomiuri Shimbun
5 days ago
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Buoyed by Weak Yen as Trump Tariff Deadline Delayed
TOKYO, July 8 (Reuters) – Japan's Nikkei share average rose on Tuesday, buoyed by a weakening yen and as U.S. President Donald Trump gave an additional three-week grace period for tariff negotiations. The Nikkei .N225 gained 0.2% to 39,679.13 as of 0220 GMT. The broader Topix .TOPX added 0.1%. On Monday, Trump began telling selected trade partners that they will see higher tariff rates from August 1, with the original three-month moratorium on 'Liberation Day' reciprocal levies expiring on Wednesday. Japan will now see a rate of 25%. Prime Minister Shigeru Ishiba said his administration would continue negotiations with the White House to seek a mutually beneficial bilateral deal. Initially touted by Trump's team as a likely early success, talks with Tokyo remain stalled for weeks, largely over a 25% tariff on Japanese auto imports. 'It's very clear that it be will very difficult' to overcome the obstacles to an agreement on autos, said the chief macro strategist at Sumitomo Mitsui DS Asset Management, Masayuki Kichikawa, who sees the 25% duty on the sector sticking. Japan's best outcome would be a lowering of the universal 25% rate to the baseline 10% the U.S. is levying on all trading partners, he said. According to Kichikawa, 'there is no choice other than to wait and see' for now as the July 20 Japanese upper house elections leave Ishiba's team little room to show flexibility in trade negotiations until after the result. Japanese stocks rose on the day even after the tariff announcements, which also included South Korea along with a host of smaller nations, sent Wall Street sliding from record highs. Japan's heavyweight exporters were supported by a sharply weaker yen, with Trump's new tariff rates spurring a broad rally in the U.S. currency overnight. A weaker yen inflates the value of overseas revenues. The chip sector was a standout, with Advantest 6857.T gaining 2.2% and Furukawa Electric 5801.T jumping 7.7%. Automakers advanced, with Mazda 7261.T climbing 2.5% and Toyota 7203.T up 0.5%. However, shares of embattled Nissan 7201.T slumped for a third day, shedding an additional 2.9%.
