Japan’s Topix Edges Higher as Yen Slips on US-China Trade Talks
Japan’s Topix headed for a nine-day advance, the longest rally since March 2021, as the yen weakened against the dollar on a report US officials will travel to Switzerland for trade talks with China.
Topix rose 0.4% to 2,698.58 as of 9:03 a.m. Tokyo time
Nikkei 225 advanced 0.1% to 36,882.28
US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will travel later this week to Switzerland for trade talks with China led by Vice Premier He Lifeng. The yen slid as much as 0.6% to 143.31 per dollar.
Hitachi contributed the most to the Topix’s gain, increasing 3.1%. Out of 1,689 stocks in the index, 778 rose and 780 fell, while 131 were unchanged. Japan’s stock market was closed for national holidays on Monday and Tuesday.
“The biggest point on the US tariff issue is when the US-China negotiations will take place,” said Mitsushige Akino, president of Ichiyoshi Asset Management. “The Nikkei 225 is likely to be heavy up from 37,000 yen.”
Source : Bloomberg
