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@ReutersJapanThe Nikkei Average continued to rise for 7 days, and I like the high price of rice stocks and the depreciation of the yen at one point
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Nikkei Closes at 36,830.69 After 7-Day Rally, Yen Drops to 145.50, TOPIX at 2,687.78
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Japan's Nikkei 225 index rose for the seventh consecutive session on May 2, 2025, closing up 378.39 points at 36,830.69. The index briefly gained over 500 points during the session, reaching an intraday high of 36,976.51, and started the day up 184 points. For the week, the Nikkei was up 2%.
The rally was supported by a weaker yen, which fell to the 145.50 yen per US dollar range for the first time in about three weeks. The yen's decline followed the Bank of Japan's decision to keep interest rates unchanged and lower its growth outlook, resulting in speculation that further rate hikes may be delayed.
Export-related stocks, particularly in the automotive sector, benefited from the weaker yen, while banking shares were pressured by expectations of a slower pace of monetary tightening. Notable gainers included Yamato Holdings, up over 5%, and AOKI Holdings, up over 12%, while Seiko Epson fell over 4%. The broader Topix index rose 0.31% to 2,687.78, with total trading value on the Tokyo Stock Exchange Prime Market at 4.75 trillion yen.
Trade optimism contributed to market activity, with ongoing tariff talks between Japan and the US, and between the US and China, being cited as factors. According to a corporate survey, many Japanese companies view an exchange rate of 140-149 yen per US dollar and a policy rate of 1.0-1.25% as desirable.
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