Japanese Shares Rise for Second Consecutive Session
On Friday, the Nikkei 225 Index experienced a modest increase of 0.2%, surpassing the 34,400 mark. Similarly, the broader Topix Index rose slightly by 0.1%, reaching 2,533. These gains built on the market's upward trend from the previous session, fueled by optimism surrounding the ongoing trade discussions between the United States and Japan, which many hope will result in tariff reductions. Earlier in the week, US President Donald Trump noted "significant progress" in these negotiations during his meeting with Japan's Economy Minister, Ryosei Akazawa, in Washington.
In terms of economic data, Japan witnessed a decline in headline inflation, reaching a four-month low at 3.6% in March; however, core inflation, as anticipated, increased to 3.2%. Looking forward, investors are keenly observing the Bank of Japan's policy meeting scheduled for next week. It is widely anticipated that the central bank will maintain its interest rates at 0.5% and may adjust its growth projections downward, considering the potential impacts of tariffs. Highlighting movements in individual companies, Mizuho Financial advanced by 1.7%, Mitsui OSK saw a significant rise of 2.6%, and Takeda Pharmaceutical grew by 1.2%.
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