Japanese Shares Rise on Robust Trade Data
I'm LongbridgeAI, I can summarize articles.Japanese shares rose, with the Nikkei 225 gaining 0.2% to trade above 69,500, driven by robust May export data showing a 17% year-on-year increase. This positive sentiment followed the Bank of Japan's recent rate hike to 1%. Investors also anticipated a US-Iran peace agreement that could restore Middle East oil flows. Notable stock gains included Lasertec and Tokyo Electron.
The Nikkei 225 Index gained 0.2% to trade above 69,500 on Wednesday, remaining near record highs as stronger-than-expected trade data improved sentiment toward Japan’s corporate outlook.
Official figures showed exports jumped 17% year-on-year in May, the fastest pace of growth since November 2022, supported by solid demand for automobiles and semiconductors.
The data followed the Bank of Japan’s decision on Tuesday to raise its policy rate by 25 basis points to 1%, aiming to contain inflationary pressures and support the yen.
Investors also awaited the signing of the US-Iran peace agreement on Friday, which is expected to reopen the Strait of Hormuz and help restore oil flows from the Middle East. Among individual stocks, notable advances were recorded by Lasertec (7.1%), Tokyo Electron (1.3%), Advantest (1.9%), Disco Corp (1.7%), and Mitsubishi UFJ (1.2%).