Japan's Trade Gap Surges Past 1 Trillion Yen as US Oil Premiums Offset Export Gains
Japan's trade deficit widened to 1.1 trillion yen in August, driven by a 58.7% surge in petroleum import costs. While exports beat forecasts with a 19.3% rise, fueled by semiconductor equipment, the energy bill from shifting to US crude sources outweighed gains. The Bank of Japan is expected to hike rates this week amid rising inflation.