Asian Shares Mostly Lower as Yen Surge Hits Japanese Exporters

Asian shares declined on Monday, January 26, 2026, led by a 1.9% drop in Japan's Nikkei 225 to 52,812.45 as the yen strengthened against the U.S. dollar. The currency move, sparked by intervention warnings from Japanese and U.S. officials, pressured major exporters like Toyota Motor Corp., whose shares fell 3.2%. The U.S. dollar fell to 154.26 yen from 155.01 yen, a sharp reversal from levels around 158 yen last week. South Korea's Kospi dipped 0.6%, while U.S. equity futures edged lower amid ongoing trade policy uncertainty. U.S. President Donald Trump recently threatened 100% tariffs on Canadian goods, though Canada's Prime Minister denied plans for a free trade deal with China.