PT Rifan Financindo Berjangka - Japan’s shares rose on Wednesday as concerns about excessive tariffs by Donald Trump’s administration receded, while sentiment was boosted his announcement of a joint venture to fund artificial intelligence infrastructure worth billions of dollars led by Softbank Group, OpenAI and Oracle.
The Topix Index rose 0.6% to 2,730.15 as of 9:15 a.m. Tokyo time
The Nikkei advanced 1% to 39,407.22
Export-related stocks such as automobiles and electronics as well as materials firms gained, while SoftBank Group jumped more than 7%. Banks are also firm due to expectations that the Bank of Japan will hike interest rates on Friday.
“Since President Trump is putting the US economy first, there is unlikely to be any extreme tariff policy that would have a negative impact on the economy,” said Mitsushige Akino, president of Ichiyoshi Asset Management. In Japan “there’s still room for long-term interest rates to rise, so it’s thought that financial stocks won’t do too badly” even if the BOJ raises rates as expected this week, he said. PT Rifan Financindo Berjangka.
Source: Bloomberg
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