Stocks Rise on Fiscal Spending Outlooks – Asia Market Wrap

Japanese stocks gained as exporters advanced after Germany announced a sweeping fiscal overhaul and following US President Donald Trump’s decision to delay automaker levies on Mexico and Canada.

Asia’s defense and Europe-exposed machinery shares made up more than half of the top gainers in the Nikkei 225 index on Thursday after Germany’s historic plan to ramp up spending shook European markets on Wednesday. China also announced its growth plan and set a forceful economic expansion goal at about 5% for 2025 on Wednesday, raising expectations for officials to unleash more stimulus this year.

Banks climbed after Japan’s 10-year government bond yield reached its highest since June 2009 at 1.5% following German bunds which suffered their worst day since the months following the fall of the Berlin Wall.