The Tokyo Stock Exchange advanced early Monday, riding the wave of optimism on Wall Street that continued last Friday as investors grew accustomed to the prospect of aggressive and sustained monetary tightening from the Fed.
The flagship Nikkei index gained 1.28% to 28,576.49 points around 00:55 GMT and the broader Topix index gained 0.83% to 1,981.79 points.
In addition to a certain overall return to risk appetite, investors in Tokyo were also encouraged by the renewed weakness of the yen, a “positive for the results of Japanese companies” factor, even if the media insists especially these times This on the negative aspects of this exchange rate trend, estimated the chief strategist of Rakuten Securities Masayuki Kubota in a note.
Speculation regarding a full reopening of the Japanese economy, learning to live with Covid-19, was also supporting the Tokyo market, according to Mr. Kubota.
On the side of values
AIRLINES: Japanese values associated with the tourism sector were celebrating, driven by information from the Nikkei newspaper: the government plans to lift the country’s latest border restrictions linked to Covid-19 by October, including the quota of daily entries into the national territory. The title of the airline ANA Holdings gained 2.04% to 2,689 yen and that of Japan Airlines rose 2.11% to 2,604 yen.
On the side of oil and currencies
The oil market slowed down Monday morning in Asia: around 00:50 GMT the barrel of American WTI lost 1.16% to 85.78 dollars and the barrel of Brent from the North Sea dropped 1.04% to 91.87 dollars.
On the currency market, the yen retreated once morest the dollar, at the rate of one dollar for 142.80 yen around 01:00 GMT once morest 142.47 yen on Friday at 21:00 GMT.
The Japanese currency also weakened once morest the euro, which was worth 143.83 yen once morest 143.06 yen at the end of last week.
And the euro appreciated slightly once morest the greenback, at the rate of one euro for 1.0070 dollars once morest 1.0042 dollars on Friday at 9:00 p.m. GMT.
etb-kh/ybl
