Market Updates
Japan- U.S. Trade Negotiations Raise Hopes for Lower Tariff for Japanese Goods
Akira Ito
08 Apr, 2025
Tokyo
Japan's market indexes rebounded after the U.S. agreed to start trade negotiations.
The Nikkei 225 Stock Average soared more than 5%, and the TOPIX index advanced 6%, as investors pinned their hopes on a possible decrease in U.S. import taxes following the trade negotiations.
U.S. President and Japan's Prime Minister Shigeru Ishiba agreed to start high-level trade negotiations as early as next week, which could lead to lower import taxes on Japanese goods.
However, tensions remained high after Donald Trump threatened to slap additional duties of 50% on Chinese goods following Beijing's 34% tariff on U.S. goods.
The yen strengthened to 147.40 against the U.S. dollar and the yield on 10-year Japanese bonds to 1.23%, rebounding from a three-month low, as investors continued to seek safety and stability.
Japan Indexes and Stocks
The Nikkei 225 Stock Average surged 5.5% to 32,867.64, and the broader Topix index gained 6% to 2,425.03.
Banks, retailers, and heavy engineering companies led gainers in Tokyo trading.
Mitsubishi UFJ Financial Group soared 10.5% to ¥1,656.50, Sumitomo Financial Group added 10.9% to ¥3,182.0, and Mizuho Financial Group surged 13% to ¥3,316.0.
Seven & I Holding increased 3.9% to ¥1,922.50, Takashimaya Co. Ltd. soared 8.4% to ¥1,109.0, and Fast Retailing advanced 5.2% to ¥43,810.0.
IHI Corp. soared 10.6% to ¥9,764.0, Kawasaki Heavy Industries jumped 11.5% to ¥6,891.0, and Mitsubishi Heavy Industries surged 11.9% to ¥2,312.0.
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