Connect with us

Business

Tokyo stocks gain on stimulus hopes under new leader

Published

on

 



This archive photo shows the Tokyo Stock Exchange. (Mainichi)

TOKYO (Kyodo) – Tokyo shares ended slightly higher, reversing earlier losses from auto stocks including Toyota Motor, as lingering hopes of a revival under a new prime minister led to last-minute buying after the large gatherings of the past week.

The 225-number Nikkei Stock Average finished up 65.53 points, or 0.22%, from Friday at 30,447.37. The largest Topix index of all issues in the first section of the Tokyo Stock Exchange finished 6.06 points, or 0.29%, down to 2,097.71.

The winners were led by iron and steel, petroleum and coal products and banking problems.

The US dollar moved closer to the lower 110 yen area after moving closer to the upper 109 yen range as investors sold the yen as a safe haven after a rally in Tokyo stocks improved the investor risk appetite, brokers said.

North Korea’s successful test firing of a new long-range cruise missile over the weekend, according to the Korean Central News Agency, had limited impact on the currency market, said. they stated.

At 5 p.m., the dollar hit 110.08-09 yen against 109.86-96 yen in New York and 109.94-96 yen in Tokyo by 5 p.m. on Friday.

The euro was listed at $ 1.1786-1787 and 129.74-78 yen against $ 1.1806-1816 and 129.76-86 yen in New York and $ 1.1842-1843 and 130.19-23 yen in Tokyo late Friday afternoon.

The benchmark 10-year Japanese government bond was not traded on Monday as investors sat on the sidelines pending the release of the US consumer price index for August, which will be released on Tuesday. The 10-year bond yield closed at 0.040% on Friday.

Shares traded in negative territory for most of the day, with investors making gains after the Nikkei closed on Friday at its highest level since Feb. 16, brokers said.

But positive market sentiment persisted in hopes that Prime Minister Yoshihide Suga’s successor would compile a new economic back-up plan to gain popularity after Suga said earlier this month he would not be running for office. the ruling Liberal Democratic Party’s presidential race, brokers said.

The LDP leader serves as prime minister because the party controls the House of Representatives, and general elections will be held this fall after the LDP presidential election.

“There was a sense of overheating in the market after the recent strong rises, but bullish sentiment has remained among retail investors, and foreign investors are also starting to buy Japanese stocks,” said Chihiro Ota, deputy managing director of investment research at SMBC Nikko Securities Inc..

Gains were limited by Toyota’s announcement on Friday that it would reduce its global production outlook, triggering the sale of some automakers and parts, brokers said.

The automaker lost 164 yen, or 1.6%, to 9,795 yen, after saying it cut its global production outlook for the current fiscal year through March from about 300,000 units to about 9 million vehicles due to the spread of COVID-19 and a semiconductor crisis. .

Toyota’s announcement fueled fears about supply issues for other automakers, as Toyota was seen to have weathered the impact of the coronavirus pandemic and the chip tightening relatively well, brokers said.

Among other automakers, Honda Motor fell 44 yen, or 1.3%, to 3,387 yen, Mitsubishi Motors fell 3 yen, or 1.0%, to 284 yen, and Nissan Motor fell 6 , 50 yen, or 1.1%, to 565.10 yen.

But Mitsui High-tec, a maker of onboard motor cores used in hybrid and electric vehicles, jumped 1,500 yen, or 21.2 percent, to hit its maximum daily limit of 8,580 yen. The electric machinery maker on Friday revised its profit forecast for the year to January 2022 upwards on Friday amid stronger than expected spare parts demand for electrified cars.

Renesas Electronics, a leading maker of semiconductors used in cars, jumped 60 yen, or 4.4%, to 1,430 yen as Toyota’s announcement raises expectations that strong demand for its chips will continue .

On the first section, the increasing emissions outnumbered the decreases from 1,534 to 554, while 101 ended unchanged.

Main section trade volume fell to 1,135.44 million shares from 1,486.00 million shares on Friday.

Sources

1/ https://Google.com/

2/ https://mainichi.jp/english/articles/20210913/p2g/00m/0bu/045000c

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]