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Shares of Japan's major automakers fell sharply after President Trump announced a 25% tariff on auto imports, with Toyota down 3.7%, Nissan 3.2%, and Honda 3.1%. The auto industry is crucial to Japan's economy, accounting for about 10% of jobs and a significant portion of US-bound exports. Japanese officials have sought tariff exemptions but have faced refusals, raising concerns about the broader economic impact.
Foxconn will hold a seminar in Japan on April 9 to present its electric vehicle (EV) strategy, targeting local automakers and suppliers. Jun Seki, the company's chief EV strategy officer and a former Nissan executive, is set to speak at the event. This follows Foxconn's recent agreement with Mitsubishi Motors to produce EVs for Oceania, marking its first outsourcing deal with a Japanese automaker and indicating a potential shift in Japan's automotive landscape amid rising competition from Chinese manufacturers like BYD.
Foxconn has signed an agreement to manufacture electric vehicles for Mitsubishi Motors in Taiwan, marking a significant move into the EV contract manufacturing sector. While the production timeline remains unclear, the initial vehicles will be aimed at the Australian and New Zealand markets. Mitsubishi has expressed openness to partnerships, aligning with Foxconn's strategy to diversify beyond consumer electronics.
Asian markets opened mixed as Wall Street rebounded from an early slump, with Honda shares soaring over 16% amid a significant share buyback announcement and merger talks with Nissan. Japan's Nikkei 225 fell 0.3%, while South Korea's Kospi also dropped 0.3% due to declining consumer sentiment. Meanwhile, U.S. consumer confidence slipped in December, raising inflation concerns as the Federal Reserve signals fewer interest rate cuts ahead.
Asian markets mostly advanced on Christmas Eve, with Chinese stocks gaining over 1% after promises of increased government spending. Honda's shares surged 12.2% following a share buyback announcement and merger talks with Nissan, which also saw a 6% rise. Meanwhile, South Korea's Kospi dipped 0.1% amid declining consumer sentiment.
Asian markets opened mixed as Wall Street rebounded from an early dip, with Honda shares soaring over 16% following a significant share buyback announcement and merger talks with Nissan. Japan's Nikkei 225 fell 0.3%, while South Korea's Kospi also declined amid political uncertainty. U.S. consumer confidence dropped in December, raising inflation concerns as the Federal Reserve signals fewer interest rate cuts ahead.
Asian markets mostly advanced on Christmas Eve, with Chinese stocks gaining over 1% after the finance minister announced increased government spending for 2025. Japan's Nikkei 225 fell 0.3%, while Honda's shares surged over 12% following a merger announcement with Nissan, which also saw a 6% rise. South Korea's Kospi dipped 0.1% amid declining consumer sentiment, and oil prices rose slightly.
World shares were mixed following a rally on Wall Street, with the S&P 500 down 2% for the week despite a 1.1% gain on Friday. U.S. lawmakers passed a budget deal, averting a government shutdown, while Asian markets saw gains, particularly in Japan and Australia. Honda and Nissan announced plans for a potential merger, boosting their stock prices.
World shares were mixed on Monday following a rally on Wall Street that capped a dismal week, with the S&P 500 down 2%. European markets saw declines, while Asian indices, including Japan's Nikkei 225 and Australia's S&P/ASX 500, posted gains. U.S. lawmakers passed a budget deal, easing concerns of a government shutdown, while inflation data influenced market expectations for future interest rate cuts by the Federal Reserve.
Most Asian stocks rose on Monday, buoyed by optimism from softer U.S. inflation data and speculation about a potential merger between Honda and Nissan, which could create the third-largest global automaker. Japanese shares saw notable gains, while regional markets also benefited from expectations of increased fiscal spending in China. South Korea led the region with a 1.5% rise as investors capitalized on discounted stocks.
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Japanese automakers face stock decline after US tariff announcement
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13:57 27.03.2025
Foxconn to unveil electric vehicle strategy at Japan seminar
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08:20 27.03.2025
Foxconn partners with Mitsubishi to manufacture electric vehicles in Taiwan
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asian markets mixed as honda shares surge amid merger talks
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asian markets rise as china pledges increased government spending
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asian markets mixed as honda shares surge amid merger talks
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asian markets rise as china pledges increased government spending
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05:15 24.12.2024
global markets mixed as us lawmakers avert government shutdown
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05:26 23.12.2024
global markets mixed as us lawmakers avert government shutdown
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05:26 23.12.2024
Asian stocks rise as US inflation data boosts market optimism
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03:42 23.12.2024
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