Japanese Stocks Rise on Yen Weakness, Easing Tariff Concerns
Japanese stocks gain as the yen weakened and traders brush off President Donald Trump’s latest tariff threats as bargaining tactics that are unlikely to derail global trade.
The Topix Index rose 0.5% to 2,836.85 as of 9:29 a.m. Tokyo time, while the Nikkei advanced 0.3% to 39,560.50.
Mitsubishi UFJ Financial Group Inc. contributed the most to the Topix Index gain, increasing 1.5%.
Out of 1,680 stocks in the index, 942 rose and 608 fell, while 130 were unchanged.
Exports-related sectors such as autos, machinery and electronics, as well as non-ferrous metal stocks, performed strongly. Rising domestic and international interest rates and higher US financial stocks provided a tailwind, pushing bank stocks higher.
Oil-linked stocks such as trading companies and mining firms fell, after US President Donald Trump threatened to impose stiff financial penalties on Russia, whipsawing the Nikkei average.
Source : Bloomberg