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Japan’s Nikkei average closed at a two-week low, dropping 680 points (1.8%) to 37,120.33, driven by concerns over U.S. tariffs on imported cars and parts. Automakers like Toyota and Honda saw significant declines, contributing to a market value loss of nearly $20 billion in three days. All 33 industry sub-indexes on the Tokyo Stock Exchange fell, with the brokerage sector experiencing the steepest drop at 4.52%.
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.
The Swiss stock market opened sharply lower, mirroring declines in the US and Asian markets due to impending US tariffs on the automotive sector. Analysts express concerns over a potential global trade war, with all leading Swiss stocks declining except for Lindt, which saw a slight gain. The SMI fell 1.42% to 12,771.07 points, reflecting widespread bearish sentiment among investors.
Japan’s Nikkei share average rose 0.3% to 37,890.15, buoyed by investor optimism over U.S. President Trump's potential flexibility on tariffs. The broader Topix gained 0.2%, with semiconductor stocks like Tokyo Electron and SoftBank Group contributing to the gains. However, a stronger yen pressured Japanese automakers, while Nintendo surged 5%, becoming the top gainer on the index.
Ethereum has experienced a significant decline, currently down 57% from its all-time high. Despite this drop, its market value remains higher than that of Toyota, highlighting the cryptocurrency's enduring worth in the financial landscape.
Apple enhances AirPods Max with lossless audio and AI leadership changes, while Tesla faces regulatory hurdles in China and legal issues in the US. Ford is under investigation for gear shifts in F-150 trucks, and Bank of America appoints a new head for India. In Europe, SAP surpasses Novo Nordisk in market value, and Bayer's stock drops after a significant jury verdict. BYD reports a substantial profit increase, and Toyota delays its battery factory project while starting a recycling facility.
Tesla's stock has plummeted to $430, significantly below its target of $515, amid increasing competition and tariffs, leading to a ninth consecutive week of losses. Major banks, including JP Morgan and Wells Fargo, have downgraded their price targets, citing weak demand and stagnant sales across key markets like Europe and China. Analysts express concerns over Tesla's future, with some predicting continued challenges without new vehicle launches.
Honda Motor will source batteries for its hybrid vehicles from Toyota's U.S. plant, aiming to mitigate tariff risks from the Trump administration. Starting in fiscal 2025, Honda plans to acquire enough batteries for approximately 400,000 vehicles, covering all its hybrid sales in the U.S.
ComfortDelGro has launched its first robotaxi program in Guangzhou, China, in collaboration with Pony AI, marking a significant step in the commercial deployment of autonomous vehicle services. This two-year pilot aims to enhance AV technology operations and fleet management, supporting the company's strategy for large-scale deployment in China and beyond. With a planned investment of S$30 million over five years, ComfortDelGro is committed to advancing autonomous transport solutions to address global driver shortages and improve ride availability.
Lloyds Banking Group has appointed Magdalena Lis as head of responsible AI, responding to increasing demands for ethical AI practices. With over 15 years of experience, including roles advising the UK Government and leading analytics at Toyota Connected Europe, Lis will enhance products while ensuring necessary safeguards. This follows the appointment of Dr. Rohit Dhawan as director of AI and advanced analytics, overseeing a team dedicated to advancing AI in banking.
Toyota Motor Corp
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Nikkei falls to two-week low as automakers decline on tariff fears
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09:10 28.03.2025
Japanese automakers face stock decline after US tariff announcement
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13:57 27.03.2025
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05:38 26.03.2025
ethereum value drops significantly yet surpasses toyota in market worth
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Tesla stock faces continued decline amid competition and demand concerns
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06:55 17.03.2025
Lloyds Banking Group appoints head of responsible AI to enhance safeguards
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