Autos, Heavy Industries Send Nikkei Flying!
Japanese stocks rose as yen weakened despite lingering uncertainty over the Middle East and energy prices. Autos and heavy industries led the gains. Honda Motor rose 2.8% and Mitsubishi Heavy Industries gained 3.4%. Nippon Steel rose 2.2% after reaching a deal with the Trump administration to resolve national security concerns over its proposed acquisition of U.S. Steel. USD/JPY was at 144.51, up from 143.61 at the close of the Tokyo stock market on Friday. Investors were watching for any developments related to Israel’s war with Iran and U.S. tariffs. The Nikkei Stock Average was up 0.9% at 38170.94.
Source: Bloomberg