Trump retaliated on Monday, saying he was” no looking” at any delay in the application of tariffs.
However, brokerage firm Monex stated in a note that” NVidia’s stabilization and the 2.7 % rise in the Philadelphia Semiconductor Index ( SOX ) are expected to trigger buybacks in Japan’s high-priced, semiconductor-heavy stocks.”
Local markets are projected to start higher today due to the yen’s ongoing weakness, it said.
147.56 yen was purchased in night trade, up from 147.83 yen immediately.
According to Monex, both the US supervision and President Trump are disputing reviews about the suspension of mutual tariffs, which means that concerns about tariffs also exist.
Nevertheless, Shigeru Ishiba, the prime minister of Japan, announced late on Monday that they would hold further discussions regarding the US government’s most recent taxes.
” Tariff-related uncertainty will probably continue,” Monex continued, despite the deal.
Nippon Steel shares increased 11 % in Tokyo after Trump formally reviewed the proposed takeover of US Steel.
Joe Biden, Trump’s predecessor, had earlier resisted the merger due to concerns about national security.
Shares of US Steel were up 16 % in New York on Monday.