Japan’s real wages decreased 2.1% in March from a year earlier, the third straight monthly decline, according to official statistics released on Friday. According to Kyodo News, nominal wages, or the average total monthly cash earnings per worker including base and overtime pay, climbed by 2.1% to 308,572 yen ($2,100), for the 39th consecutive month.
On Friday, Japan’s Nikkei share average finished at a more than one-month high, as risk appetite rose following a US trade agreement with Britain, raising hopes for progress in negotiations with other nations.
The Nikkei gained 1.56% to 37,503.33, its highest closing level since March 27. In a holiday-shortened week, the index increased 1.83 percent, marking the fourth consecutive week of increases. The wider Topix increased 1.29 per cent to 2,733.49, capping an 11-session surge, the longest since October 2017.
“Investors believe that the market slump in April was the worst, and that the environment not only for equities but also for bonds is only improving as more trade talks compromise agreements become possible,” said Hiroyuki Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management.
US President Donald Trump and British Prime Minister Keir Starmer struck a limited bilateral trade deal on Thursday, but Trump’s 10% tariffs on British goods remain in effect.
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