Japan's Topix Caps Biggest Four-Day Gain Since November 2016
- Favorable forex may bring ‘risk-on mode,’ Ichiyoshi Asset says
- Market may extend gains as early as this week: SMBC Nikko
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Japan’s Topix index completed its biggest advance over a four-day period since November 2016 while the yen remained near a two-month low against the dollar as investors brushed off concerns of a trade war between the U.S. and China.
Electronics and machinery shares were the biggest boosts to the benchmark as China’s Ministry of Finance said Beijing is still ready to negotiate an end to the trade tensions. China announced retaliatory tariffs against $60 billion of U.S. goods as the Trump administration threatened duties on virtually all Chinese imports. Japanese stocks held gains after the Bank of Japan left policy unchanged following a two-day meeting.