Asian Markets Retreat Amid Global Economic Uncertainty
Asian shares dipped from their recent heights on Friday as investors secured profits ahead of an eventful week marked by President Trump's tariff deadline and several central bank meetings. The Japanese yen weakened due to political turbulence, while the dollar rose alongside strong economic data from the U.S.
Asian markets took a step back from their recent highs on Friday, with Japan's performance particularly affected as investors took profits before a pivotal week. Focus is placed on U.S. President Donald Trump's impending tariff deadline and a series of significant central bank meetings.
Political instability weighed on Japan's currency, driven by reports that Prime Minister Shigeru Ishiba might resign, while Japanese bonds stayed just shy of their highest levels since 2008. Key indices such as the Topix and the Nikkei lost ground after sharp gains.
Despite the retreat in Asian markets, the U.S. saw minor gains, buoyed by positive earnings from Alphabet and a new record on the Nasdaq. Overall global sentiment is tied to trade deal optimism, though concerns over potential higher tariffs and inflation linger.
(With inputs from agencies.)
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