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Market Commentary - Foreign Markets

Japanese markets eked out modest gains

12-May-2025, 02:58
Japanese markets eked out modest gains on signs of improving U.S.-China relations. The Nikkei average rose 0.38 percent to 37,644.26 while the broader Topix index settled 0.31 percent higher at 2,742.08.

Panasonic Holdings fell nearly 2 percent after announcing it will cut 10,000 staff and expects to book restructuring costs of 130 billion yen ($896.06 million) this business year.

Nippon Steel tumbled 3.8 percent after the company said it expects net profit to slide 43 percent in the fiscal year ending March 2026.

Japan saw a current account surplus of 3.678 trillion yen in March, the Ministry of Finance said on Monday - up 6.7 percent on year.

Exports were up 1.8 percent on year to 9.559 trillion yen, while imports were up an annual 1.3 percent at 9.042 trillion yen for a trade surplus of 516.5 billion yen.