Automakers led shares higher after US President Donald Trump announced a deal to set tariffs on imports from Japan at a lower-than-feared level of 15%. That pushed the broad Topix measure and the Nikkei 225 gauge of blue-chip equities more than 3% higher.
Japan’s Topix stock index headed for a record high and government bonds slumped after a long-awaited trade deal with the US spurred an explosive day for financial markets in Tokyo.
Reports that Japanese Prime Minister Shigeru Ishiba planned to resign added to the drama and accelerated the rally in shares and declines in bonds. The yen swung between gains and losses.
