Market Updates
Yen Edged Higher Amid Narrower Rate Differential Expectations, Nikkei 225 Stock Average Rebounded Nearly 2%
Akira Ito
03 Mar, 2025
Tokyo
Stock market indexes in Tokyo surged in Monday's trading following the rebound in tech stocks on Wall Street on Friday.
The Nikkei 225 stock average soared 1.7%, and the broader TOPIX advanced 1.8%, driven by the rise in tech and defense stocks.
The yen traded at 150.12 against the U.S. dollar amid rising expectations that the Bank of Japan will continue its rate-hike campaign at the end of its policy meeting later in the month.
However, mood in Tokyo was cautious amid threats of looming U.S. tariffs on imports from Mexico and Canada from March 4 and additional tariffs on China shipments.
The yen retained an upward bias as the resurgent inflation and the possible delay in the Federal Reserve are likely to shrink the rate differential between Japan and the U.S.
The expectations of higher-for-longer interest rates in the U.S. are likely to ease the burden on the Bank of Japan in increasing rates rapidly in 2025, providing more headroom for stock market indexes in Japan.
Market sentiment has been cautious after softer-than-expected retail sales, industrial production, new home starts, and Tokyo-area inflation released last Friday divided investors about the future rate path.
Japan Indexes and Stocks
The Nikkei 225 Stock Average jumped 1.7% to 37,785.47, and the TOPIX advanced 1.8% to 2,729.56.
Tokyo Electron Ltd. increased 1.6% to ¥22,380.0, Advantest Corp. added 0.2% to ¥8,128.0, and Lasertec decreased 0.7% to ¥13,275.0.
Toyota Motor increased 3.9% to ¥2,795.0, Honda Motor inched higher 1.4% to ¥1,412.50, and Nissan Motor inched up 0.4% to ¥430.80.
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