Japan’s Nikkei share average rose 6.03% to a three-year high, driven by optimism over a market recovery in the US. The index closed at 33,012.58, its sharpest daily gain since August.
Investors snapped up stocks, seeking value after a 1-1/2 year low hit earlier. Japan’s Prime Minister Shigeru Ishiba expressed disappointment with US President Donald Trump’s tariff policies during a phone call, urging him to reconsider.
The Topix index also gained over 6%, with individual stocks like chip-maker Tokyo Electron and Fujikura, a cable maker, surging 8.7% and 19.4%. Bank shares advanced, with Mitsubishi UFJ Financial Group jumping 10.7% and Mizuho Financial Group up 13.5%.
Despite the gains, analysts warn that market recovery hopes are not sustainable due to uncertainties surrounding Japan’s corporate outlook and global economy.
Source: https://www.reuters.com/markets/asia/japans-nikkei-jumps-6-rebounds-1-12-year-low-us-tech-boost-2025-04-08