Japanese shares remained mostly unchanged following recent gains as the corporate earnings season concluded. Mizuho led bank stocks higher with a 4.3% rise, while Tokio Marine Holdings fell 2.7% after forecasting lower profits. The Nikkei index edged down 0.1%, with trading volumes below average. Market sentiment is cautious ahead of upcoming U.S.-Japan trade talks, and export data showed mixed results due to U.S. tariffs. Toyota gained slightly after unveiling its redesigned RAV4 SUV.
Japanese shares were little changed on Wednesday after recent gains, as traders awaited new market cues following the corporate earnings season.
Mizuho Financial Group surged 4.3%, leading gains among banks after announcing a plan to reduce cross-shareholdings. Meanwhile, Tokio Marine Holdings dropped 2.7%, dragging insurance stocks lower after forecasting a 12% decline in annual profits.
The benchmark Nikkei index has climbed 4.9% since early April, when U.S. President Donald Trump announced sweeping tariffs—though most have been paused in favor of bilateral trade negotiations.
Japan’s export-driven economy and stock market remain sensitive to the outcome of trade talks with the U.S. Ryosei Akazawa, Japan’s lead trade negotiator, is set to visit the U.S. on Friday for a third round of discussions.
Data released Wednesday showed Japanese exports rose for the seventh consecutive month in April, though shipments to the U.S. declined, reflecting the impact of U.S. tariffs.
By midday, the Nikkei slipped 0.1%, while the broader Topix index rose 0.19%. There were 155 advancing stocks and 69 decliners on the Nikkei. Year to date, the Nikkei remains down nearly 6%.
Trading volumes were subdued on the Tokyo Stock Exchange’s main board, with 0.88 billion shares traded, below the 30-day average of 2.16 billion shares.
Toyota Motor Corporation gained 0.4% following the unveiling of its redesigned RAV4 SUV, set for launch in North America, Japan, and Europe during the current fiscal year.
