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Asian Shares were mostly lower on Monday as JapanThe benchmark index fell after the yen surged against the dollar.
Japan’s benchmark Nikkei 225 index fell 1.9% to 52,812.45 points, with Toyota Motor Corp’s shares falling 3.2% due to selling by major exporters such as Toyota Motor Corp.
A weak currency is generally good for Japanese exporters because it helps increase the value of their overseas earnings. The dollar has strengthened against the yen in recent months. The yen has fallen sharply in the past few days after Japanese and U.S. officials said they were prepared to intervene to support the yen.
USD/JPY fell from 155.01 yen to 154.26 yen. Last week it was trading around 158 yen.
The euro rose to $1.1866 against the dollar from $1.1858.
Elsewhere in Asia, South Korea’s Kospi fell 0.6% to 4,961.58 points.
Hong Kong’s Hang Seng Index fell slightly by 0.1% to 26,722.89 points; the Shanghai Composite Index rose by 0.1% to 4,141.10 points.
Markets in Australia, New Zealand, India and Indonesia were closed.
U.S. futures edged lower amid continued uncertainty over issues including U.S. tariff policy.
S&P 500 and Dow Jones Industrial Average futures fell 0.3%.
threats from the president of the united states Donald Trump 100% tariff on goods from the following countries Canada Rebutted by Canadian Prime Minister Mark Carney. Trump has warned that he may raise tariffs if Canada signs a free trade agreement with China. Carney said Canada has no plans to reach such a deal.
In 2024, Canada follows the United States and imposes a 100% tariff on electric vehicles from Beijing and a 25% tariff on steel and aluminum. In response, China imposed a 100% import tax on Canadian canola oil and meal, and a 25% import tax on pork and seafood.
During a visit to China this month, Carney broke with the United States and cut 100% of tariffs on Chinese electric vehicles in exchange for lower tariffs on Canadian products.
On Friday, the S&P 500 edged up less than 0.1% to 6,915.61. But it still posted modest losses for the second straight week. The Dow Jones Industrial Average fell 0.6% to 49,098.71. The Nasdaq Composite rose 0.3% to 23,501.24.
Most stocks on Wall Street fell, with Intel plunging 17%, weighing on the market.
The Fed’s next chance to adjust the short-term interest rates it controls comes on Wednesday. The market is expected to remain stable.
In other trading early Monday, U.S. benchmark crude oil rose 2 cents to $61.09 a barrel. Brent crude, the international standard, rose 3 cents to $65.10 a barrel.
Gold rose 2% to nearly $5,100 an ounce, while silver rose 6.4% to about $108 an ounce. The precious metal has surged in value in recent months as investors seek relatively safe places to invest.