By Kevin Buckland TOKYO (Reuters) -Japanese automakers led a surge in the Nikkei share average to a one-year peak on Wednesday, while bonds slid after Tokyo reached a trade deal with Washington, ending a months-long stalemate.

U.S. stocks are rising toward another record following a trade deal between the world’s No. 1 and No. 4 economies, one that would lower proposed tariffs on Japanese imports to the United States. The S&P 500 was 0.

Japanese car makers led a surge in the Nikkei share average to a one-year peak today, after Tokyo reached a trade deal with Washington, ending a months-long stalemate.

By Kevin Buckland TOKYO (Reuters) -Japanese automakers led a surge in the Nikkei share average to a one-year peak on Wednesday, after Tokyo reached a trade deal with Washington, ending a months-long stalemate.

Global shares rallied on Wednesday, with Tokyo’s benchmark Nikkei 225 index gaining 3.5% after Japan and the U.S. announced a deal on President Donald Trump’s tariffs.

Asian shares have rallied, with Tokyo's benchmark Nikkei 225 index up 3.5% after Japan and the U.S. announced a deal on President Donald Trump's tariffs. The agreement as announced calls for a 15% import duty on goods imported from Japan,

Asian markets are mixed after U.S. stock indexes hit new records on Monday. Oil prices fell and U.S. futures were little changed.

Tokyo stocks edged up Tuesday morning as Japanese Prime Minister Shigeru Ishiba's vow to remain in office despite the ruling coalition's major setback in a national election helped ease concern about political uncertainty.