PT Rifan Financindo Berjangka - Japanese stock prices advanced on Tuesday on temporary relief that US President Donald Trump steered clear of unveiling specific tariffs on his first day in office.
The Topix Index rose 0.7% to 2,729.11 while the Nikkei gained 0.6% to 39,154.11 right after open, as investors sought clarity on whether the new US administration will take a moderate approach trade policy.
“If he refrains from tariffs on day one, that could suggest he may raise tariffs gradually through dialog rather than slapping tariffs unilaterally,” said Hideyuki Ishiguro, chief strategist at Nomura Asset Management.
The gains were led by carmaker shares, which have been badly hit by tariff worries, other exporters and firms that have big exposure to the Chinese economy such as machine makers and consumer stocks.
Toyota Motor Corp. contributed the most to the Topix Index gain, increasing 2.4%.
Ishiguro said the lack of new tariffs from Trump would also reduce concerns about US inflation and help Japanese automakers and others in export sectors.
Still, uncertainties around Trump’s policy are keeping investors on edge, likely making it harder for Japan’s equity benchmarks to break out of their recent trading range. Since October, the Nikkei has been mostly stuck in a 38,000-40,000 range.
Trump ordered his administration to address unfair trade practices globally and investigate whether Beijing had complied with a deal signed during his first term.
Although Trump did say he would impose tariffs and tax foreign countries in his speech, the moves were “taken as an indication towards gradualism”, said Taylor Nugent, senior economist at National Australia Bank in Sydney. PT Rifan Financindo Berjangka.
Source : Bloomberg
No comments:
Post a Comment