Published on 06/04/2025 at 02:55
(MT Newswires) -- Japanese shares rose on Wednesday after Bank of Japan Governor Kazuo Ueda said the economy can weather US tariffs and support continued inflation and wage growth, signaling readiness for further rate hikes.
The Nikkei 225 rose 0.8%, or 300.64 points, to end at 37,747.45.
Ueda warned that uncertainty in US trade policy could hurt Japanese exports, delay investment, and dampen wage growth.
He said tariffs are already weighing on business and consumer sentiment and stressed that, despite recent US-China tariff talks, the outlook remains highly uncertain.
In economic news, Japan's private sector growth slowed in May, with the services PMI dropping to 51.0 from 52.4 the previous month and the composite index inching up to 50.2, S&P Global said.
Weaker service demand, soft export growth, and slower hiring weighed on momentum. Input inflation eased but remained high, keeping selling prices elevated.
Business confidence improved slightly but stayed below the 2024 average amid global and cost concerns.
On the corporate front, Toyota Motor will take Toyota Industries private for 4.7 trillion yen to accelerate its mobility transition. A new holding company led by Toyota Fudosan will conduct the tender offer.
Toyota will buy back 1.19 billion of its own shares from Toyota Industries, fully funded from internal capital. It will also invest 700 billion yen in preferred shares of the new entity.
Footwear brand WA posted a 10% year-on-year sales increase in May to 1.61 billion yen. Cumulative February-May sales rose 41% to 5.37 billion yen.
Dai-ichi Life plans to buy a 15% stake in UK-based M&G for 160 billion yen, adding about 15 billion yen in annual profit, Fitch Ratings said.
The deal will slightly lower its 210% solvency ratio. Dai-ichi also aims to delegate $3 billion in assets to M&G for better global returns.

Sumber : MT Newswires