Pedestrians are silhouetted in front of an electronic board displaying the Nikkei share average outside a brokerage in Tokyo, Japan
| Photo Credit:
KIM KYUNG-HOON
Asian shares mostly declined Monday, as Japan’s benchmark took a tumble after the yen surged against the US dollar.
Japan’s benchmark Nikkei 225 dropped 1.9 per cent to 52,812.45 on selling of big exporters like Toyota Motor Corp., whose shares fell 3.2 per cent .
A weak currency is generally favourable for Japanese exporters because it helps elevate the value of their overseas earnings. In recent months, the dollar has gained against the yen. It fell sharply in the past few days after officials in both Japan and the US indicated they were prepared to intervene to support the yen.
The dollar slipped to 154.26 Japanese yen from 155.01 yen. It had been trading around 158 yen last week.
The euro rose to $1.1866 from $1.1858.
Elsewhere in Asia, South Korea’s Kospi dipped 0.6 per cent to 4,961.58.
Hong Kong’s Hang Seng inched down 0.1 per cent to 26,722.89, while the Shanghai Composite added 0.1 per cent to 4,141.10.
Markets were closed in Australia, New Zealand, India and Indonesia.
US futures edged lower on persisting uncertainty over US tariff policies, among other issues.
The futures for the S&P 500 and the Dow Jones Industrial Average were down 0.3 per cent.
A threat by US President Donald Trump to impose a 100 per cent tariff on goods from Canada was countered by Canadian Prime Minister Mark Carney. Trump had warned he might hike tariffs if Canada signed a free trade deal with China. Carney said Canada had no plans for such a deal.
In 2024, Canada mirrored the United States by putting a 100 per cent tariff on electric vehicles from Beijing and a 25 per cent tariff on steel and aluminum. China had responded by imposing 100 per cent import taxes on Canadian canola oil and meal and 25 per cent on pork and seafood.
Breaking with the United States this month during a visit to China, Carney cut its 100 per cent tariff on Chinese electric cars in return for lower tariffs on those Canadian products.
On Friday, the S&P 500 edged up less than 0.1 per cent to 6,915.61. But it still notched a second straight week with a modest loss. The Dow Jones Industrial Average dipped 0.6 per cent to 49,098.71. The Nasdaq composite rose 0.3 per cent to 23,501.24.
The majority of stocks on Wall Street fell, and Intel weighed on the market after tumbling 17 per cent.
The next chance for the U.S. Federal Reserve to move the short-term interest rate it controls will come on Wednesday. The market expectation is that it will hold steady.
In other dealings early Monday, benchmark U.S. crude rose 2 cents to $61.09 a barrel. Brent crude, the international standard, edged up 3 cents to $65.10 a barrel.
Gold gained 2% to nearly $5,100 an ounce, while silver jumped 6.4% to about $108 per ounce. The value of precious metals has surged in recent months as investors sought relatively safe places to invest. (AP) AMS
Published on January 26, 2026
