Tokyo – Asian shares on Wednesday increased by more than 3% after Japan with Tokyo’s benchmark Nikkei 225 index and the US announced a deal on President Donald Trump’s tariff.
The agreement announced 15% import duty on goods imported from Japan, in addition to some products such as steel and aluminum which are subject to much tariff. Trump below 25% said that if there is no deal, he would kick on 1 August.
Trump posted on the truth social, “The deal will create hundreds of thousands of jobs – nothing like that,” Trump posted on the truth social, given that Japan was also “investing $ 550 billion in my direction” $ 550 billion, he said Japan said that Japan “open” to American autos and rice.
Hong Kong’s Hang Seng rose 1.1% to 25,397.81, while Shanghai Composite Index rose 0.8% to 3,608.58.
S of AustraliaAndP/ASX 200 has increased by 0.6% to 8,731.90 and in South Korea, Kospi increased from 0.1% to 3,172.10.
Tim Waterr, the main market analyst of Kohle Capital Markets, said, “President Trump has signed two trade deals with the Philippines and Japan this week, which despite the European Union and South Korea’s choice, the market spirit is likely to keep the minimum elusive.”
Despite the latest announcement including Toyota Motor Corp, Honda Motor Company and Nissan Motor Corp, there was no comment from Japanese vehicle manufacturers, with no comments despite the latest announcement.
Japanese companies are cautious about their public reactions, and some trading authorities privately commented in an off-between the off-between comments that they hesitate to say anything because Trump keeps changing his mind.
Japan Automobile Manufacturers Association also said that it had no comments, given that there was no official statement yet. Japanese Prime Minister Shigeru Ishiba welcomed the agreement as beneficial for both sides.
Wall Street on Tuesday entered another record after some mixed profit reports, as General Motors and other big American companies updated how much pain Trump’s tariffs were hurting or helping them.
SceneAndThe P500 added 0.1% to the all-time high, it was set a day earlier, closed at 6,309.62. Dow Jones industrial average rose 0.4% to 44,502.44. Nasdaq Composite slipped 0.4% from its record, at 20,892.68.
General Motors dropped 8.1% despite reporting a strong profit for spring compared to analysts. The automaker stated that it is still expecting a hit of $ 4 billion to $ 5 billion for its results in 2025 from high tariffs and expects to reduce 30%. GM also said that it would feel more pain due to tariffs in the current quarter during spring.
After informing strong benefits for spring compared to Wall Street, it helped to compensate for some homebuilders. Dr. Horton held 17%rallies, and Paltagroup jumped 11.5%. Even the two companies stated that homebuilders continue to deal with challenging situations, including high mortgage rates and uncertain economy.
So far, the American economy is providing strength through Trump’s uncertainty by Trump’s on-off tariffs. Many of Trump’s proposed taxes on imports are currently on break, and the next major deadline is 1 August. Negotiations are underway on potential trade deals with other countries that can reduce rigorous proposals before kicking into kicks.
Trump said he arrived at a trade agreement with the Philippines after a meeting at the White House on Tuesday, which would see the US a slightly dropping rate to the Philippines and will see what he sells there without paying import taxes.
In the Bond Market, the treasury yield sinks as traders hope to wait till September to wait from the Federal Reserve by September.
The yield on a 10 -year treasury was from 4.38% to 4.34% late Monday night.
Among other deals in the early hours of Wednesday, American benchmark crude oil increased by 14 cents to $ 65.45 per barrel. Brent Crude, International Standard added 18 cents to $ 68.77 per barrel.
In currency trading, the US dollar increased from 146.64 yen to 146.80 Japanese yen. Euro costs $ 1.1745, below $ 1.1754. ,
AP Business Writer Stan Cho contributed.
