December 02, 2024 at 01:50 am EST
(MT Newswires) -- Japan shares rose on Monday, lifted by Wall Street records, while the dollar recovered from multiweek lows, helped by U.S. interest rate expectations and President-elect Donald Trump's warning to BRICS nations against challenging the greenback.
The Nikkei 225 rose 0.8%, or 304.99 points, to end at 38,513.02.
US President-elect Donald Trump demanded on Saturday that BRICS nations abandon plans for a new currency or support for alternatives to the U.S. dollar, warning of 100% tariffs and restricted access to the US market.
On his Truth Social platform, Trump dismissed the prospect of the BRICS replacing the dollar in global trade, suggesting any nation attempting such moves would jeopardize ties with America.
In economic news, Japan recorded a trade surplus of 109.5 billion yen in the first 10 days of November, reversing a 489.4 billion yen deficit a year earlier, as imports fell sharply, provisional finance ministry data showed.
Manufacturing conditions weakened for a fifth month, with the au Jibun Bank Japan PMI dropping to 49.0 in November, the steepest decline since March, amid sluggish demand for autos and semiconductors, S&P Global said.
Japanese companies boosted plant and equipment investment by 8.1% year on year in July-September, up from 7.4% in the prior quarter. Manufacturers' spending rose 9.2%, while non-manufacturers increased investment by 7.4%.
On the corporate front, Marubeni (TYO:8002) will transfer its entire stake in Kraft of Asia Paperboard & Packaging to Meico Management after a capital increase, raising the Vietnamese containerboard firm's capital to $306.8 million.
Aozora Bank (TYO:8304) warned claims totaling 7.92 billion yen, or 1.7% of its net assets, against chemical maker Unitika (TYO:3103) and subsidiaries could face delays or become unrecoverable, as Unitika seeks revitalization support from Japan's Regional Economy Vitalization Corporation.
Nissan Motor (TYO:7201) reported a 6.3% year-on-year drop in global production for October, with Japan output down 3.8% and overseas production falling 7.0%. However, Japanese commercial vehicle production rose 43.4%, while global sales declined 2.7%.
Sumber : MT Newswires
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