Shares in global carmakers surged after a U.S. trade agreement with Japan sparked optimism for the auto industry. Japanese auto stocks were particularly buoyant, with Toyota closing up 14%, its bigges

But more big tests loom with trade talks still continuing between the Trump administration and counterparts in China and the European Union.

Citi economist Katsuhiko Aiba said the U.S.-Japan trade deal could influence the course of talks with other major auto exporters, namely the EU and South Korea.