Japan Stocks Soar After Trump Halts Higher Tariffs For 90 Days
Japanese shares surged on Thursday, joining a global relief rally after US President Donald Trump paused sweeping new tariffs, easing concerns about a sharp hit to global trade and growth.
The Nikkei 225 jumped 9.04%, or 2,867.76 points, to close at 34,581.79.
Trump announced a 90-day freeze on most of the tariffs imposed earlier this week.
The White House said a 10% blanket duty on nearly all imports would stay in place, while existing levies on cars, steel, and aluminum remain untouched.
Trump also raised tariffs on Chinese goods to 125%, prompting Beijing to retaliate with 84% duties on US goods and restrictions on 18 US firms, mostly in the defense sector.
The relief on trade came alongside fresh economic data showing Japan's producer prices rose 4.2% in March from a year earlier, slightly faster than February's 4.1% increase, driven by higher costs for food, energy, and utilities, according to the Bank of Japan.
Month-on-month, factory gate prices rose 0.4%.
Bank lending grew 2.8% year on year to 636.7 trillion yen in March, while deposits and certificates of deposit climbed 0.9% to 1,049.1 trillion yen in the first quarter.
In corporate news, gadget-maker Sourcenext (TYO:4344) will shift some production to Vietnam to sidestep U.S. tariffs on goods from China.
Source: MT newswires
