TOKYO: Japan’s Nikkei share average rose on Tuesday after US President Donald Trump stopped short of imposing new tariffs, easing concerns about the outlook for Japanese exporters.
By 0002 GMT, the Nikkei had risen 0.8% to 39,198.72 and the broader Topix was up 0.61% at 2,727.63.
Chip-making equipment maker Tokyo Electron rose 1.84% to provide the biggest boost to the Nikkei.
Uniqlo-brand owner Fast Retailing rose 0.82%. Trump used his inauguration speech to announce emergencies on immigration and energy and a more expansionist foreign policy, including a pledge to take back the Panama Canal.
Japan’s Nikkei tracks Wall Street higher ahead of Trump inauguration
Yet there was only a brief mention of tariffs and, so far, no details on how or when they might be unrolled.
The Nikkei’s gains will be limited as the market awaits the Bank of Japan’s policy decisions due on Friday, said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory.
The BOJ is expected to raise interest rates on Friday in a move that would lift short-term borrowing costs to levels unseen since the 2008 global financial crisis.
Source: Brecorder
