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Business Standard
a day ago
- Automotive
- Business Standard
Japanese markets ends at 6-month high
Japanese markets ended at a six-month high amid hopes the U.S. will extend the deadline for reciprocal tariffs. The Nikkei average jumped 1.43 percent to 40,150.79, marking its highest closing level since December 27. The broader Topix index settled 1.28 percent higher at 2,840.54. Technology stocks followed their U.S. peers higher, supported by positive news around easing tensions in the Middle East and expectations for Fed rate cuts this year. Tokyo Electron surged 4.3 percent and SoftBank Group rallied 2.5 percent. Defense-related Kawasaki Heavy Industries soared 6.2 percent on expectations of increased defense spending in the country. Automakers Honda, Toyota and Nissan all gained around 3 percent, tracking a weaker yen as Tokyo's CPI data for June 2025 revealed a milder inflation trajectory than anticipated.
BusinessToday
a day ago
- Business
- BusinessToday
Asian Markets Mixed Amid Trade Developments and Rate Cut Hopes
Asian equities ended the trading week on a mixed note on June 27, as optimism over geopolitical developments and US rate cut expectations was offset by weak economic data and profit-taking in key markets. Investor sentiment received a partial boost after US President Donald Trump announced a rare earth trade deal with China and teased a forthcoming agreement with India. Meanwhile, the ceasefire between Iran and Israel held steady, and soft US economic data bolstered hopes for Federal Reserve (Fed) rate cuts. Japan led regional gains, with the Nikkei 225 surging 1.43% to 40,150.79, its highest close since December, while the Topix rose 1.28% to 2,840.54. Tech stocks tracked US peers higher amid easing Middle East tensions and tariff extension speculation. In contrast, China's Shanghai Composite fell 0.7% to 3,424.23 after data showed industrial profits dropped 9.1% in the first five months of the year, highlighting persistent deflationary pressures and a troubled property sector. Hong Kong's Hang Seng slipped 0.17% to 24,284.15 despite confirmation of a US-China agreement to expedite rare earth shipments. South Korea's Kospi declined 0.77% to 3,055.94, as investors locked in gains in battery and automotive stocks. LG Energy Solution dropped 3%, while Hyundai Motor fell 2.2%. Australia's S&P/ASX 200 gave up early gains to close 0.43% lower at 8,514.20, weighed by losses in banking stocks. The broader All Ordinaries shed 0.34% to 8,743.60. New Zealand bucked the regional trend, with the S&P/NZX-50 rising 0.83% to 12,583.59, marking its second consecutive day of gains. In commodities, gold slipped over 1% to trade below US$3,300 an oz and the dollar index hovered near a two-year low ahead of the release of the US May Personal Consumption Expenditure price index. Oil prices were poised for their worst weekly loss since March as supply concerns eased. Investors now turn their focus to key US inflation data for further cues on the Fed's next move. Related
Yomiuri Shimbun
a day ago
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Ends at 6-Month High, Tracking Wall Street Rally
TOKYO, June 27 (Reuters) – Japan's Nikkei share average closed at a six-month high on Friday, as technology stocks tracked Wall Street's robust finish overnight. The Nikkei jumped 1.43% to 40,150.79, its highest closing level since December 27. The index rose 4.6% for the week, its sharpest weekly gain since the week of September 23, 2024. The broader Topix rose 1.28% to 2,840.54, gaining 2.5% for the week. 'Investors finally became willing to make long positions on U.S. stocks, underpinned by positive news around easing tensions in the Middle East and expectations for the interest rate cut,' said Takamasa Ikeda, senior portfolio manager at GCI Asset Management. 'Japanese equities mirrored the U.S. trend, led by stocks which are popular among foreign investors.' Overnight, Wall Street finished higher, with the S&P 500 and the Nasdaq just shy of record closing highs as the Israel-Iran ceasefire continued to hold and a raft of economic indicators appeared to support the case for the Federal Reserve lowering borrowing costs this year. In Japan, technology stocks rose, with chip-making equipment maker Tokyo Electron jumping 4.3% to boost the Nikkei the most. Tech start-up investor SoftBank Group rose 2.54%. Defense-related stocks Kawasaki Heavy Industries and Mitsubishi Heavy Industries rose 6.15% and 2.71%, respectively, on expectations of increased defense spending in Japan. Bucking the trend, chip-testing equipment maker Advantest lost 1.07%, weighing the most on the index, as investors booked profits from its more than 40% rise this month. 'Still, the rally on overall IT-related shares will continue. The market is just relocating their targets,' Ikeda said. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 72% rose, 24% fell and 2% traded flat.
Business Times
a day ago
- Business
- Business Times
Japan's Nikkei ends at 6-month high, tracking Wall Street rally
[TOKYO] Japan's Nikkei share average closed at a six-month high on Friday (Jun 27), as technology stocks tracked Wall Street's robust finish overnight. The Nikkei jumped 1.43 per cent to 40,150.79, its highest closing level since Dec 27. The index rose 4.6 per cent for the week, its sharpest weekly gain since the week of Sep 23, 2024. The broader Topix rose 1.28 per cent to 2,840.54, gaining 2.5 per cent for the week. 'Investors finally became willing to make long positions on US stocks, underpinned by positive news around easing tensions in the Middle East and expectations for the interest rate cut,' said Takamasa Ikeda, senior portfolio manager at GCI Asset Management. 'Japanese equities mirrored the US trend, led by stocks which are popular among foreign investors.' Overnight, Wall Street finished higher, with the S&P 500 and the Nasdaq just shy of record closing highs as the Israel-Iran ceasefire continued to hold and a raft of economic indicators appeared to support the case for the Federal Reserve lowering borrowing costs this year. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In Japan, technology stocks rose, with chip-making equipment maker Tokyo Electron jumping 4.3 per cent to boost the Nikkei the most. Tech start-up investor SoftBank Group rose 2.54 per cent. Defence-related stocks Kawasaki Heavy Industries and Mitsubishi Heavy Industries rose 6.15 per cent and 2.71 per cent, respectively, on expectations of increased defence spending in Japan. Bucking the trend, chip-testing equipment maker Advantest lost 1.07 per cent, weighing the most on the index, as investors booked profits from its more than 40 per cent rise this month. 'Still, the rally on overall IT-related shares will continue. The market is just relocating their targets,' Ikeda said. Of the more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 72 per cent rose, 24 per cent fell and 2 per cent traded flat. REUTERS
The Mainichi
a day ago
- Business
- The Mainichi
Nikkei ends above 40,000, 1st time since Jan. as tariff woes ease
TOKYO (Kyodo) -- Tokyo stocks rose Friday for a fourth straight day, with the Nikkei index ending above the 40,000 line for the first time since January, as worries about hefty U.S. tariffs eased. The 225-issue Nikkei Stock Average closed up 566.21 points, or 1.43 percent, from Thursday at 40,150.79, its highest level since Dec. 27. The broader Topix index finished 35.85 points, or 1.28 percent, higher at 2,840.54. On the top-tier Prime Market, gainers were led by nonferrous metal, transportation equipment and securities house issues. The U.S. dollar briefly strengthened to the upper 144 yen range in Tokyo as the Japanese currency, seen as a safe-haven asset, was sold on hopes for progress in tariff negotiations between the United States and other countries, dealers said. The Nikkei benchmark briefly jumped over 600 points as investors welcomed the U.S. administration's announcement Thursday that President Donald Trump could extend a 90-day pause on so-called reciprocal tariffs set to expire July 9. The market was also supported by easing tensions in the Middle East, as the cease-fire agreed earlier in the week by Israel and Iran appeared to be holding, brokers said.
