Shares of Japanese, South Korean and European automakers surged on Wednesday after U.S. President Donald Trump agreed to a trade deal with Tokyo that included reducing tariffs on Japanese auto imports to 15%,

That rate is lower than the 24% that Trump threatened Japan with on April 2 and the 25% that he said he would hit Japanese imports with in a letter on July 7. Before Trump's current term, the effective U.S. tariff rate on Japanese imports was less than 2%, according to World Bank data.

The U.S.-listed stocks of Japanese companies are surging, amid investor enthusiasm over the U.S-Japan trade deal. The biggest gainers were the ADRs of automakers, as Toyota's stock was

Japanese government bonds tumbled on Wednesday, sending benchmark yields to near 17-year highs, as traders priced in increased political risks and a hazy outlook for the central bank's policy normalisation path.

Asian shares were mixed on Tuesday after U.S. stock indexes inched to more records at the start of a week of profit updates from big U.S. companies. Japan’s benchmark surged and then fell back as it reopened from a holiday Monday following the ruling coalition's loss of its upper house majority in Sunday's election.

Japan’s antitrust watchdog, in its first action against a credit card firm, found Visa restricted competitors by charging higher fees and has ordered reforms.

TOKYO, July 21 (Reuters) - The fringe far-right Sanseito party emerged as one of the biggest winners in Japan's upper house election on Sunday, gaining support with warnings of a "silent invasion" of immigrants, and pledges for tax cuts and welfare spending.