On January 24, 2025, the Tokyo Stock Exchange reported a decline in the Nikkei 225 index, which closed at 39,931.98, down 26.89 points from the previous day. This marked the first decrease in five trading days.
During the morning session, the market initially followed the upward trend of major US stock indices from the previous day, with a surge in buying orders for high-priced stocks such as Fast Retailing. At one point, over 80% of stocks listed on the Tokyo Prime Market were gaining.
However, in the afternoon, the yen strengthened against the dollar in the foreign exchange market, leading to a drop in export-related stocks, particularly in the automotive sector, due to reduced overseas earnings. Investor caution increased ahead of a press conference by Bank of Japan Governor Kazuo Ueda, resulting in the Nikkei index turning negative.
The Tokyo Stock Price Index (TOPIX) also fell, closing down 0.70 points at 2,751.04.
In Canada, National Bank CEO Laurent Ferreira addressed the Chamber of Commerce of Metropolitan Montreal, urging the country to implement nationalist reforms in response to looming US tariffs and increasing protectionism. He proposed a 'Buy Canada Act' and emphasized the need to reduce the tax and regulatory burden on businesses. Ferreira noted that the new pro-business administration in the US has reignited discussions around enhancing Canadian productivity.