FX.co ★ Japanese Shares Follow Wall Street Higher

On Friday, the Nikkei 225 experienced a modest increase of 0.1%, reaching approximately 39,810, while the broader Topix Index advanced by 0.2%, closing at 2,835. This marked the second consecutive day of gains for Japanese equities. The upward movement was influenced by a positive direction from Wall Street, where key US indices achieved new record highs, driven by strong June employment figures that alleviated fears of a potential economic downturn. Investors remained attentive to ongoing trade developments, with reports indicating that President Donald Trump might soon announce adjusted tariff rates or perhaps extend the July 9 deadline for multiple countries. Domestically, household spending in Japan exceeded expectations in May, bolstered by Tokyo's intensified efforts to boost consumer spending. Leading the gains were Tokyo Electric Power, which rose by 4.5%, Mizuho Financial with a 1.7% increase, and Keyence, up by 1.8%. Despite these recent advancements, both the Nikkei and Topix are still positioned to register weekly losses, as ongoing trade uncertainties earlier in the week persisted in dampening market sentiment.