Market Updates
Tokyo Indexes Extend 2-Day Losses After Trade Talks with the U.S. Stall
Akira Ito
02 Jul, 2025
Tokyo
Stock market indexes declined for the second consecutive day after trade tensions with the U.S. reignited.
After more than two months of fruitless talks, Japan's trade negotiations with the U.S. appear to go nowhere, as the two sides remain far apart on additional duties of 25% on Japanese cars and automobile parts.
In addition, Japanese negotiators are not ready to relax restrictions on rice and vehicle imports from the U.S.
The Nikkei 225 Stock Average decreased as much as 1%, the broader Topix dropped 0.3%, and the yen strengthened to 143.86.
The Trump administration launched a global tariff war in early April, hoping that key trading partners will yield to the U.S. demand of additional import duties and ease persistent trade deficits.
The U.S. trade deficit in 2025 is likely to cross one trillion dollars, driven by the surge in imports of vehicles, food products, consumer products, engineered goods, and intermediate parts.
For 2024, the goods and services deficit rose 17% to $918.4 billion, driven by a 14% rise in the goods deficit to $1.2 trillion, offset by a 5.4% increase in the services surplus to $293.3 billion.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 0.3% to 39,854.23, and the broader Topix edged down 0.01% to 2,831.73.
Toyota Motor increased 0.8% to ¥2,471.50, Honda Motor added 1.6% to ¥1,419.0, and Nissan Motor Co. Ltd. edged up 0.1% to ¥342.10.
Sony Group Corp. increased 0.3% to ¥3,670.0, Daikin Industries added 3.4% to ¥17,475.0, Shimano Inc. added 1.2% to ¥20,605.0, and Murata Manufacturing decreased 0.7% to ¥2,102.0.
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