The Nikkei 225 Index surged 8% to above 34,000 on Thursday, erasing losses from earlier this week after US President Donald Trump unexpectedly lowered new tariff rates on imports from most US trade partners to 10% for 90 days to allow for trade negotiations. This marks a significant reduction from the previous 24% levy applied to Japanese imports. The Trump administration confirmed earlier this week that they will hold trade talks with Japanese officials following a phone call between President Trump and Prime Minister Shigeru Ishiba. However, Trump still raised the tariffs imposed on imports from China to 125% due to retaliations from Beijing. Financial and technology stocks led the rebound, with strong gains from Mitsubishi UFJ (13.6%), Sumitomo Mitsui (11%), Advantest (15.4%), and Tokyo Electron (14.5%). Consumer stocks also posted notable performances, including Toyota Motor (8.7%), Nintendo (8.6%), and Sony Group (12.4%).
Source: Trading Economi
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