Nikkei Index Surpasses 50,000 on Hopes for Eased US-China Trade Tensions
The Nikkei 225 Average, the leading stock index of the Japanese stock market (hereafter referred to as the Nikkei Index), showed strong performance on the 27th, surpassing the 50,000 mark for the first time during intraday trading.
As of 10:56 a.m. on this day, the Nikkei Index was trading at 50,418.17, up 2.27% from the previous trading day.
The Nihon Keizai Shimbun (Nikkei) cited the easing of concerns over the US-China trade conflict and political stability in Japan as factors behind the stock market's strength.
Scott Besant, US Secretary of the Treasury, said on the 26th (local time) that China is not expected to implement export controls on rare earth elements, and as a result, the United States is also not expected to impose an additional 100% tariff on China. The United States and China are scheduled to hold a summit in Busan on the 30th.
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As the Japanese political landscape stabilizes, expectations for economic policy are also rising. According to a telephone survey conducted by Nikkei from the 24th to the 26th among 1,059 men and women aged 18 and older, the approval rating for Japanese Prime Minister Sanae Takaichi's cabinet was 74%. The market believes that although the Liberal Democratic Party, even if combined with Nippon Ishin, did not secure a majority in the House of Representatives, the high approval rating has strengthened the government's ability to push forward with policies.
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