The Prague Post - Tokyo leads gains in most Asian markets on trade deal hopes

EUR -
AED 4.311132
AFN 81.889993
ALL 97.860241
AMD 450.034767
ANG 2.100522
AOA 1076.304459
ARS 1481.163161
AUD 1.794945
AWG 2.112702
AZN 1.996521
BAM 1.954615
BBD 2.366445
BDT 143.343077
BGN 1.954363
BHD 0.442386
BIF 3491.652912
BMD 1.173723
BND 1.499078
BOB 8.099158
BRL 6.443385
BSD 1.172079
BTN 100.618699
BWP 15.637451
BYN 3.835641
BYR 23004.975778
BZD 2.354252
CAD 1.60259
CDF 3386.191824
CHF 0.93554
CLF 0.028795
CLP 1104.989932
CNY 8.421348
CNH 8.419082
COP 4732.569532
CRC 591.938527
CUC 1.173723
CUP 31.103666
CVE 110.200052
CZK 24.645017
DJF 208.711659
DKK 7.46035
DOP 70.147164
DZD 152.144588
EGP 58.295432
ERN 17.605849
ETB 162.661969
FJD 2.634654
FKP 0.86074
GBP 0.86112
GEL 3.180759
GGP 0.86074
GHS 12.189712
GIP 0.86074
GMD 83.929948
GNF 10164.749491
GTQ 9.00969
GYD 245.213392
HKD 9.213669
HNL 30.621301
HRK 7.535063
HTG 153.325717
HUF 399.945615
IDR 19061.735134
ILS 3.932959
IMP 0.86074
INR 100.545418
IQD 1535.368952
IRR 49443.09205
ISK 142.61933
JEP 0.86074
JMD 187.065766
JOD 0.832199
JPY 171.456908
KES 151.703515
KGS 102.642003
KHR 4708.104892
KMF 493.57154
KPW 1056.348676
KRW 1604.667556
KWD 0.358397
KYD 0.976708
KZT 608.850793
LAK 25256.469289
LBP 105014.924211
LKR 352.633159
LRD 235.001499
LSL 20.810303
LTL 3.4657
LVL 0.709974
LYD 6.313118
MAD 10.549892
MDL 19.772841
MGA 5139.861291
MKD 61.546969
MMK 2463.896144
MNT 4212.272678
MOP 9.476953
MRU 46.472621
MUR 52.946411
MVR 18.074217
MWK 2031.959163
MXN 21.85752
MYR 4.974823
MZN 75.071604
NAD 20.810481
NGN 1794.024522
NIO 43.133476
NOK 11.847116
NPR 160.986692
NZD 1.95136
OMR 0.451288
PAB 1.171875
PEN 4.158978
PGK 4.913999
PHP 66.193885
PKR 333.007845
PLN 4.246373
PYG 9340.256488
QAR 4.284675
RON 5.063675
RSD 117.157494
RUB 92.368463
RWF 1692.466478
SAR 4.402068
SBD 9.785242
SCR 17.220349
SDG 704.822251
SEK 11.159473
SGD 1.499707
SHP 0.922362
SLE 26.392494
SLL 24612.394075
SOS 669.790985
SRD 43.724128
STD 24293.701619
SVC 10.255781
SYP 15260.594953
SZL 20.804296
THB 38.124288
TJS 11.281151
TMT 4.119769
TND 3.418385
TOP 2.748978
TRY 46.969429
TTD 7.944183
TWD 34.108486
TZS 3101.789097
UAH 49.036555
UGX 4204.48622
USD 1.173723
UYU 47.042275
UZS 14718.074956
VES 130.614564
VND 30661.759425
VUV 139.466502
WST 3.216575
XAF 655.556678
XAG 0.031926
XAU 0.000352
XCD 3.172046
XDR 0.815302
XOF 655.553887
XPF 119.331742
YER 284.217264
ZAR 20.895408
ZMK 10564.921183
ZMW 28.392541
ZWL 377.938409
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Tokyo leads gains in most Asian markets on trade deal hopes
Tokyo leads gains in most Asian markets on trade deal hopes / Photo: KAMIL KRZACZYNSKI - AFP

Tokyo leads gains in most Asian markets on trade deal hopes

Tokyo led most Asian markets higher Friday on optimism about a Japan-US trade deal as investors keep tabs on countries' tariff talks with the White House.

Text size:

US President Donald Trump's remarks that he was reluctant to further hike levies on Beijing also provided a little support amid hope for an easing of tensions between the economic titans.

Governments around the world are lining up to visit the US president's team in an effort to pare back eye-watering levies Trump imposed for what he calls years of being "ripped off" and to reshore manufacturing.

While several officials have been in touch, Japanese negotiator Ryosei Akazawa's trip this week was seen as a canary in the mine owing to the countries' long-running relationship.

Akazawa met Trump, Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent on Wednesday without making any immediate progress, though a second round of talks is scheduled for the end of April.

On Friday, US Ambassador to Japan George Glass said he was "extremely optimistic that a deal will get done".

The day before, Trump hailed "big progress" in the negotiations.

Hopes most of the measures against US trading partners can be rowed back have soothed some market anxiety after the white-knuckle ride at the start of the month, though uncertainty caused by the president's tendency to flip-flop is keeping investors on edge.

Trump on Thursday offered a little optimism when he said he was reluctant to keep hiking rates on China as that could halt trade between the two economic superpowers, adding that Beijing had been reaching out to him.

"I have a very good relationship with President Xi (Jinping), and I think it's going to continue," he said. "And I would say they have reached out a number of times."

His remarks came after Bloomberg reported that China could be open to dialogue but wanted to see some measures beforehand, including reining in some cabinet members' anti-Beijing comments.

Still, Washington unveiled new port fees on Chinese built and operated ships Thursday as it looks to boost its domestic shipbuilding industry and curb China's dominance in the sector.

The move stems from a probe launched under Joe Biden's administration but could further ratchet up tensions.

After a mixed lead from Wall Street, Asia mostly rose.

Tokyo led the gains even as data showed Japanese inflation accelerated last month as rice prices more than doubled.

Seoul, Bangkok and Taipei also rose, though Shanghai edged down.

Hong Kong, Sydney, New York, London, Paris, Frankfurt, Singapore, Mumbai, Jakarta, Wellington and Manila were closed for holidays.

Investors are also eyeing developments at the Federal Reserve as Trump hit out at boss Jerome Powell, who warned the sweeping tariffs were "highly likely to generate at least a temporary rise in inflation".

The president slammed Powell for not lowering interest rates, as the ECB has done, and said his "termination cannot come fast enough".

Speaking to reporters at the White House, he said Powell would "leave if I ask him to", adding "I'm not happy with him. I let him know it and if I want him out, he'll be out of there real fast, believe me".

Michael Hewson at MCH Market Insights pointed out that US inflation was far higher than the Fed's two percent target and the tariff policy had created "significant ripples in the US economy, prompting a collapse in consumer confidence in the process".

"Trump is amping up the pressure on the Fed to cut rates quickly," he wrote in a note. "Sadly, for Trump his very policies are the ones causing the Fed to pause, with Powell warning that the sheer size of the tariffs is complicating the central bank's job.

"The chaos being unleashed by the US administration is also giving business cause for concern."

In company news, Shenzhen-listed shares in Chinese battery maker CATL dropped 0.2 percent after US lawmakers asked Wall Street titans JP Morgan and Bank of America not to work on its planned initial public offering in Hong Kong.

In letters to the banks' CEOs, John Moolenaar, chair of the House Select Committee on the Chinese Communist Party, said the underwriting of the IPO exposed themselves and investors to "significant regulatory, financial and reputational risks".

- Key figures at 0715 GMT -

Tokyo - Nikkei 225: UP 1.0 percent at 34,730.28 (close)

Shanghai - Composite: DOWN 0.1 percent at 3,276.73 (close)

Hong Kong - Hang Seng Index: Closed for a holiday

Euro/dollar: UP at $1.1371 from $1.1370 on Thursday

Pound/dollar: UP $1.3270 at $1.3268

Dollar/yen: DOWN at 142.33 yen from 142.39 yen

Euro/pound: UP at 85.68 pence from 85.67 pence

West Texas Intermediate: UP 3.5 percent at $64.68 per barrel on Thursday

Brent North Sea Crude: UP 3.2 percent at $67.96 per barrel

London - FTSE 100: Closed for a holiday

New York - Dow: Closed for a holiday

C.Sramek--TPP