To use this site, please disable the ad blocking feature and reload the page.
This website uses cookies to collect information about your visit for purposes such as showing you personalized ads and content, and analyzing our website traffic. By clicking “Accept all,” you will allow the use of these cookies.
Users accessing this site from EEA countries and UK are unable to view this site without your consent. We apologize for any inconvenience caused.
Yomiuri Shimbun file photo The Tokyo Stock Exchange
Reuters
12:36 JST, April 22, 2025 (updated at 16:30 JST)
TOKYO, April 22 (Reuters) – Japan’s Nikkei recouped some of its early losses but closed lower on Tuesday, as investors bought local stocks amid a broader flight from U.S. assets following President Donald Trump’s continued criticism of the Fed chairman.
The Nikkei fell 0.17% to close at 34,220.6. The broader Topix reversed its course to end 0.13% higher at 2,532.12.
“The Nikkei showed its strength today even as the yen strengthened,” said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Research Institute.
“Investors were looking for something to buy with cash retained from a sell-off of U.S. equities.”
U.S. stocks suffered steep losses on Monday as Trump ramped up his attacks on Fed Chair Jerome Powell, prompting investors to worry about the central bank’s independence even as they grapple with the effects of an ongoing, erratic trade war.
The yen touched 139.885 to the dollar to hit its highest point since mid-September for a safe-haven bet.
A stronger yen typically weighs on domestic firms by reducing the value of overseas earnings when converted back into Japanese currency.
Uniqlo-brand owner Fast Retailing lost 0.67%, emerging as the biggest laggard in the Nikkei. Shares of chip-related Tokyo Electron and Advantest fell 1.29% and 0.83%, respectively.
Phone company KDDI rose 1.4% to provide the biggest support to the Nikkei.
The Nikkei hit an 18-month low in early April following Trump’s announcement of reciprocal tariffs but has since rebounded to the key 34,000 level. However, it remains halfway to the 38,000 mark it hovered near in late March.
“The market is awaiting next cues for the timing to start making active bets, possibly from corporate outlook, particularly from U.S. technology firms and Japanese exporters,” said Hiroyuki Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management.
Of the more than 1,600 shares traded on the Tokyo Stock Exchange’s prime market, 67% rose, 29% fell, and 2% remained flat.
