Japanese Stocks Rise as Trump Tariff Delay Boosts Automakers
Japanese stocks rose as exporters advanced after U.S. President Donald Trump’s decision to delay levies on automakers in Mexico and Canada.
The Topix index rose 0.8% to 2,740.61 as of 9:02 a.m. in Tokyo
The Nikkei gained 0.8% to 37,699.54
Automakers rose after the White House said auto tariffs in Mexico and Canada would face a one-month delay. Technology stocks were sought after after the Philadelphia Stock Exchange Semiconductor Index and the Nasdaq posted strong recoveries.
“Many automakers have invested in Mexico, and there is a possibility that automakers will be sought after because of the delay in implementing the tariff policy,” said Takashi Ito, senior strategist at Nomura Securities.
Banks also rose amid a global surge in long-term borrowing costs. The yield on Germany’s benchmark 10-year Treasury note jumped 30 basis points, the most since 1990, after finance minister nominee Friedrich Merz outlined a major fiscal overhaul late Tuesday.
Source: Bloomberg
