Japanese Shares Rise on Wall Street Boost
The Nikkei 225 index jumped 0.9% to around 37,500, while the broader Topix index rose 1.1% to 2,711 on Monday, recouping some of last week’s losses, supported by a strong Wall Street close on Friday.
However, investors remained cautious ahead of a March 4 deadline for U.S. President Donald Trump’s proposed 25% tariffs on Mexico and Canada, along with an additional 10% duty on Chinese goods.
Geopolitical concerns also persist, as Trump and Ukrainian President Volodymyr Zelensky failed to reach a deal on Friday that could potentially end the war in Ukraine. Domestically, Japan’s manufacturing PMI for February was revised slightly higher, but still showed a sixth straight month of contraction. Among the top performers were Disco (up 1.5%), Mitsubishi Heavy Industries (up 4%), Mitsubishi UFJ (up 1.2%), IHI Corp (up 3.3%), and Toyota Motor (up 3.2%).
Source: Trading Economics