Tokyo climbs on trade relief as Asian markets stall into weekend
Tokyo stocks rally on tariff settlement, earnings surge
Key drivers of the Tokyo market jump
- SoftBank surged more than 13% after posting record quarterly profit from its Vision Fund.
- Sony climbed over 4% following a 4.1% gain Thursday, boosted by a hike in its gaming revenue forecasts.
- Automobile sector strengthened with Toyota up almost 4% and Nissan over 3% after tariffs on Japanese autos were lowered.
Tariff resolution eases trade concerns
The Nikkei 225 jumped 2.2% after Japan’s tariffs envoy Ryosei Akazawa announced that Washington is expected to revise an executive order stacking tariffs. The settlement is seen as a relief for investors worried about a possible escalation of trade tensions.
Global markets mixed reaction
While Japan, Wellington, Taipei and Jakarta rose, Hong Kong, Shanghai, Sydney, Seoul, Singapore and Manila all fell. The mixed day for Asian markets reflects the uncertainty surrounding U.S. tariffs and ongoing trade negotiations.
Impact of U.S. interest rate speculation
Donald Trump’s nomination of Stephen Miran to the Fed’s policy committee added downward pressure on the dollar. Miran, a critic of the Fed, has publicly called for interest rate cuts. Economists at Bank of America and National Australia Bank noted that Miran’s stance makes a second Fed cut by year‑end more probable.
Currency and commodity snapshots
- Dollar/yen up 147.31 yen from 147.07 yen.
- Euro/dollar down 1.1659 from 1.1665.
- West Texas Intermediate flat at $63.88 per barrel.
- Brent North Sea Crude up 0.1% at $66.46 per barrel.
Key figures at 0250 GMT
- Nikkei 225 up 2.2% at 41,968.68.
- Hang Seng Index down 0.5% at 24,958.15.
- Composite down 0.1% at 3,636.18.
- Dow down 0.5% at 43,968.64.
- FTSE 100 down 0.7% at 9,100.77.
