Nikkei futures live surged to 38

Nikkei futures live surged to 38,560 following upbeat manufacturing PMI data from Japan, hinting at industrial sector recovery. Short covering added to momentum in the futures market. China's spending on overseas supply chains for electric vehicle manufacturing is showing signs of a slowdown , after five years of aggressive global expansion, Nikkei Asia's Pak Yiu in New York reports. While Chinese companies previously invested heavily in capital intensive battery and raw material projects, the focus has shifted to lower-cost vehicle assembly facilities over the past two years, according to U.S.-based consulting firm Rhodium Group. U.S. futures slipped as investors await clarity on Trump's tariff plans. Nikkei futures live inched higher to 38,440, aided by gains in renewable energy stocks. Weather-related power demand forecasts also support the utilities segment.