Asian stock markets fell largely on Monday, led by sharp losses in Japan after the yen strengthened against the US dollar, hurting exporters’ shares. Japan’s benchmark Nikkei 225 fell 1.8% to 52,870.15, pressured by heavy selling at major exporters such as Toyota Motor Corp., whose shares fell 4%.Markets across the region remained cautious due to currency volatility, uncertainty over US trade policy and ahead of a major policy decision from the US Federal Reserve later this week.
Yen rebound strikes Japanese exporters
The sell-off in Japan came after the yen staged a strong recovery against the dollar in recent days. A weaker yen typically supports Japanese exporters by increasing the value of foreign earnings, but the recent currency movement has offset that benefit.The dollar fell to 154.27 yen from 155.01 yen after trading around 158 yen last week, AP reported. The move followed comments from Japanese and US officials pointing to close coordination of currency movements, fueling expectations of a possible intervention to support the yen.“Intervention talk has helped. Since Friday, the yen has staged a sharp recovery on expectations that Japanese authorities – possibly with US coordination – would intervene,” Ipek Ozkardeskaya, senior analyst at Swissquote, told the AP news agency.
Mixed performance in Asian markets
Elsewhere in Asia, South Korea’s Kospi fell 0.7% to 4,955.79. Hong Kong’s Hang Seng fell less than 0.1% to 26,735.54, while China’s Shanghai Composite rose 0.1% to 4,141.31.Markets were closed for public holidays in Australia, New Zealand, India and Indonesia.
US futures fall on tariff uncertainty
U.S. stock futures edged lower, reflecting continued uncertainty surrounding Washington’s tariff policy. Futures for both the S&P 500 and the Dow Jones Industrial Average fell 0.3%.Investors’ nerves were rattled by new trade tensions after US President Donald Trump threatened a 100% tariff on Canadian goods if Ottawa pursued a free trade deal with China. Canadian Prime Minister Mark Carney pushed back, saying Canada has no plans for such a deal.
Wall Street ends the week mixed
US markets closed mixed on Friday. The S&P 500 rose less than 0.1% to 6,915.61, but posted a second straight weekly loss. The Dow Jones Industrial Average fell 0.6% to 49,098.71, while the Nasdaq Composite gained 0.3% to 23,501.24.Most stocks fell, with Intel plunging 17% and weighing heavily on the broader market, AP said.Investors are now looking forward to the US Federal Reserve’s policy meeting on Wednesday, where interest rates are widely expected to remain unchanged.
Commodities rise as investors seek safety
In raw materials, oil prices rose slightly. U.S. crude rose 43 cents to $61.50 a barrel, while Brent crude rose 48 cents to $65.55 a barrel.Precious metals rose as investors sought safer assets. Gold rose 2% to above $5,100 an ounce, while silver rose 7% to $108.39 an ounce, extending gains in recent months.
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