Nikkei 225 Falls 230 Yen to 37,298 as Yen Hits Mid-143 Level Ahead of Japan-US Finance Meeting

Tokyo's stock market showed mixed performance amid cautious trading ahead of the Japan-US finance ministers' meeting. The Nikkei 225 index initially rose slightly, supported by gains in select automobile, energy, and banking stocks, with the ASX 200 and KOSPI also posting modest increases. However, the market reversed course later in the day, closing lower by 230 yen at 37,298.98, pressured by a stronger yen and declines in US stocks. The Japanese yen appreciated to the mid-143 range against the US dollar, marking a two-week high, driven by expectations of yen strengthening and dollar weakness ahead of the G7 summit. Export-related stocks faced selling pressure due to the firmer yen, which weighed on the overall market sentiment. The US House Speaker indicated that a tax bill floor vote remains on track for Thursday, but this did not provide a significant catalyst for Asian markets. European equity futures suggested a quiet open, reflecting the cautious mood globally.