Japanese Stocks Rise on Earnings Improvement
The Nikkei 225 jumped 1.85% to close at 41,820, while the broader Topix Index rose 1.21% to 3,024 on Friday (August 8), with the Topix index hitting a new record high as strong corporate earnings boosted market momentum. SoftBank Group surged more than 10% after returning to profitability in the first quarter, supported in part by gains from its artificial intelligence investments.
Sony Group rose more than 3.5%, extending its 4.1% gain in the previous session, after raising its full-year operating profit forecast. Toyota Motor also rose 3.5% despite cutting its profit forecast due to US tariffs.
Meanwhile, Tokyo's chief trade negotiator said the US government has pledged to refine overlapping tariffs on Japanese goods to prevent some products from being taxed twice. Elsewhere, minutes of the Bank of Japan's July meeting showed policymakers remain divided over the timing and pace of future interest rate hikes.
Source: Newsmaker.id
