Asian stocks were on the rise as the yen slipped as the United States and Japan completed a successful round of tariff talks. Japan’s Topix gained 1%, leading regional advances at 1:59 PM in Tokyo. Australia’s S&P/ASX 200 gained 0.6%, while Hong Kong’s Hang Seng climbed 1.6% and the Shanghai Composite rose 0.2%. S&P 500 futures were 0.7% higher, with the Euro Stoxx 50 futures falling 0.3%.
The currency market mirrored the stock moves as the Japanese yen weakened 0.6% to 142.67 per dollar after Ryosei Akazawa, Tokyo’s chief negotiator, said exchange rates were not on the agenda. The euro slipped 0.3% to $1.1362, and the offshore yuan eased 0.2% to 7.3109 per dollar.
Asian stocks rise as Trump notes positive talks with Japan
According to President Donald Trump, there was “big progress” toward a deal that would spare Japan from higher U.S. import taxes. A 24% across‑the‑board tariff on Japanese goods is on hold, though a 10% baseline charge and 25% levies on cars, steel, and aluminum remain.
Investors were happy about the talks after broad levies announced earlier this month unsettled global markets. Attention has now turned to country‑specific negotiations and to China, which signaled it wants several steps from Washington before agreeing to resume discussions.
Sentiment also improved despite fresh tensions on Wednesday, when the US announced restrictions on some Nvidia chip exports and Federal Reserve Chair Jerome Powell said the central bank would take a wait‑and‑see approach on tariffs. Stocks retreated, but Treasuries rallied for a third straight day as investors sought safety; gold reached a record high on the same demand.
Akazawa mentioned that preparations were underway for a second negotiating round later this month aimed at a quick deal. Other nations are rushing to secure agreements with Washington to avoid the tariffs Trump imposed—and quickly paused—on roughly 60 trading partners. The U.S.–Japan talks may serve as a template for future U.S. negotiations with allies.
Meanwhile, sources said the White House plans to press countries to scale back commerce with China during tariff discussions. Chinese President Xi Jinping, touring Southeast Asia, urged regional unity as part of an “Asian family.” Goldman Sachs warned U.S. investors could have to dump about $800 billion in Chinese equities in a full financial decoupling.