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Japan stocks hit record high on earnings; Asia markets dip
Japan’s Nikkei 225 surged 2% to a record high, fueled by strong earnings from SoftBank and Sony, while other Asian markets declined following a weak Wall Street session. Investors also cheered potential U.S. tariff adjustments on Japanese goods.
Tokyo’s Nikkei 225 surged 2% on Friday, driven by strong earnings from firms like SoftBank and Sony, while other Asian markets dipped after a weak Wall Street session.
The Topix index hit an all-time high, crossing 3,000 for the first time, as investors cheered a potential U.S. move to ease overlapping tariffs on Japanese goods. SoftBank jumped 11% after swinging to a profit, while Sony rose 6%.
Elsewhere, Hong Kong’s Hang Seng fell 0.6%, and Australia’s market edged down 0.2%. U.S. futures rose slightly, extending gains for a third day.
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Meanwhile, Treasury yields climbed after another weak bond auction, and the dollar inched up against the yen.
Analysts attributed the rally to growing expectations of a dovish Fed shift, as President Trump prepares to nominate a new Fed governor.
Japanese spending data grew slower than expected (1.3%), suggesting a cautious economic recovery. Oil held steady, while gold dipped.
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Last update: Aug 08, 2025