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Tokyo stocks rise on Japan GDP growth, capped by U.S. tariff concern
MAINICHI
| Februari 17, 2025
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TOKYO (Kyodo) -- Tokyo stocks were slightly higher Monday morning, as investors were heartened by better-than-expected Japanese gross domestic product data that helped to ease selling amid uncertainty over potential U.S. tariffs on imported cars.
The 225-issue Nikkei Stock Average rose 15.44 points, or 0.04 percent, from Friday to 39,164.87. The broader Topix index was up 7.26 points, or 0.26 percent, at 2,766.47.
The U.S. dollar fell to the mid-151 yen zone in Tokyo as the Japanese currency was bought on renewed expectations that the Bank of Japan will continue to raise interest rates after the October-December GDP data beat market forecasts, dealers said.
At noon, the U.S. dollar fetched 151.55-56 yen compared with 152.27-37 yen in New York and 152.73-75 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.0501-0502 and 159.14-17 yen against $1.0485-0495 and 159.77-87 yen in New York, and $1.0465-0466 and 159.84-88 yen in Tokyo late Friday afternoon.
Stocks were supported by technology shares following gains by their U.S. counterparts late last week, while the data showing Japan's economy grew at an annualized real 2.8 percent in the October-December quarter also boosted sentiment.
But investors refrained from chasing the upside as they awaited further details on U.S. President Donald Trump's planned tariffs on imported cars from April, as well as developments in talks to end the Ukraine-Russia war, brokers said.
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